WP Advisors LLC Cuts Stake in General Motors (NYSE:GM)

WP Advisors LLC reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 30.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,719 shares of the auto manufacturer’s stock after selling 2,532 shares during the period. WP Advisors LLC’s holdings in General Motors were worth $256,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the 3rd quarter worth approximately $27,000. Wellington Shields Capital Management LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $28,000. Fortitude Family Office LLC increased its position in General Motors by 56.1% during the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new stake in General Motors during the 2nd quarter worth approximately $33,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GM shares. Wedbush increased their target price on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein increased their price objective on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $53.00 price objective on shares of General Motors in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Nomura downgraded shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target for the company. in a research report on Monday, August 5th. Four analysts have rated the stock with a sell rating, seven have given 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 currently has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

NYSE:GM opened at $57.04 on Monday. The business’s 50-day moving average price is $49.72 and its 200 day moving average price is $47.32. The firm has a market cap of $62.72 billion, a P/E ratio of 6.08, a PEG ratio of 0.43 and a beta of 1.40. General Motors has a 52-week low of $27.42 and a 52-week high of $59.39. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

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

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 0.84%. General Motors’s dividend payout ratio is currently 5.12%.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. This trade represents a 18.19 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $55.16, for a total value of $6,745,130.28. Following the sale, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by corporate insiders.

About General Motors

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.