Mirabella Financial Services LLP Grows Holdings in General Motors (NYSE:GM)

Mirabella Financial Services LLP boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 132.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 219,124 shares of the auto manufacturer’s stock after acquiring an additional 124,667 shares during the period. Mirabella Financial Services LLP’s holdings in General Motors were worth $9,826,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in GM. Silvercrest Asset Management Group LLC grew its position in shares of General Motors by 7.1% during the first quarter. Silvercrest Asset Management Group LLC now owns 7,094 shares of the auto manufacturer’s stock worth $322,000 after purchasing an additional 473 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new stake in General Motors during the 1st quarter valued at approximately $249,000. B. Riley Wealth Advisors Inc. raised its position in shares of General Motors by 35.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 36,493 shares of the auto manufacturer’s stock valued at $1,655,000 after buying an additional 9,460 shares during the last quarter. KLCM Advisors Inc. lifted its holdings in shares of General Motors by 2.1% in the first quarter. KLCM Advisors Inc. now owns 217,519 shares of the auto manufacturer’s stock worth $9,864,000 after buying an additional 4,387 shares in the last quarter. Finally, iA Global Asset Management Inc. boosted its position in shares of General Motors by 668.2% during the first quarter. iA Global Asset Management Inc. now owns 84,407 shares of the auto manufacturer’s stock worth $3,828,000 after acquiring an additional 73,419 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of GM stock opened at $59.19 on Monday. The stock has a 50 day moving average price of $50.74 and a 200 day moving average price of $47.71. The firm has a market capitalization of $65.09 billion, a P/E ratio of 6.24, a P/E/G ratio of 0.44 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 52-week low of $27.93 and a 52-week high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the company earned $2.28 earnings per share. As a group, sell-side analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.81%. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Upgrades and Downgrades

Several brokerages have commented on GM. The Goldman Sachs Group boosted their price target on shares of General Motors from $53.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Wells Fargo & Company lifted their price objective on General Motors from $33.00 to $38.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 23rd. Barclays upped their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $53.00 target price on shares of General Motors in a report on Tuesday, September 10th. Finally, Sanford C. Bernstein upped their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $56.92.

Insider Transactions at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares in the company, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,021,556 shares of company stock valued at $55,974,057. 0.72% of the stock is currently owned by company insiders.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.