Cornerstone Wealth Management LLC Grows Position in General Motors (NYSE:GM)

Cornerstone Wealth Management LLC grew its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,007 shares of the auto manufacturer’s stock after purchasing an additional 2,006 shares during the period. Cornerstone Wealth Management LLC’s holdings in General Motors were worth $533,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board purchased a new stake in shares of General Motors during the second quarter worth $1,953,000. AXA S.A. lifted its holdings in General Motors by 194.8% during the 2nd quarter. AXA S.A. now owns 196,850 shares of the auto manufacturer’s stock worth $9,146,000 after purchasing an additional 130,069 shares in the last quarter. MBB Public Markets I LLC boosted its stake in General Motors by 1,078.4% in the 2nd quarter. MBB Public Markets I LLC now owns 80,200 shares of the auto manufacturer’s stock worth $3,726,000 after purchasing an additional 73,394 shares during the period. Maverick Capital Ltd. grew its holdings in General Motors by 18.4% during the 2nd quarter. Maverick Capital Ltd. now owns 21,940 shares of the auto manufacturer’s stock valued at $1,019,000 after buying an additional 3,410 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of General Motors by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 803,857 shares of the auto manufacturer’s stock valued at $37,347,000 after buying an additional 41,571 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the sale, the executive vice president now owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,344 shares of company stock worth $28,977,691. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on GM shares. Royal Bank of Canada boosted their price objective on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Wells Fargo & Company reduced their target price on General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, December 16th. Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. boosted 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $61.17.

General Motors Trading Down 0.5 %

NYSE GM opened at $53.95 on Friday. The stock has a 50-day moving average of $53.17 and a 200-day moving average of $49.85. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24. General Motors has a 1-year low of $34.71 and a 1-year high of $61.24. The firm has a market cap of $59.32 billion, a PE ratio of 5.75, a price-to-earnings-growth ratio of 0.38 and a beta of 1.42.

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.