OneAscent Financial Services LLC Sells 1,345 Shares of General Motors (NYSE:GM)

OneAscent Financial Services LLC trimmed its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,347 shares of the auto manufacturer’s stock after selling 1,345 shares during the period. OneAscent Financial Services LLC’s holdings in General Motors were worth $419,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Caprock Group LLC raised its holdings in shares of General Motors by 15.3% during the third quarter. Caprock Group LLC now owns 29,402 shares of the auto manufacturer’s stock worth $1,318,000 after acquiring an additional 3,899 shares during the period. Quest Partners LLC raised its holdings in shares of General Motors by 81.0% during the third quarter. Quest Partners LLC now owns 37,516 shares of the auto manufacturer’s stock worth $1,682,000 after acquiring an additional 16,788 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of General Motors by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer’s stock worth $2,340,000 after acquiring an additional 539 shares during the period. Claro Advisors LLC raised its holdings in shares of General Motors by 18.1% during the third quarter. Claro Advisors LLC now owns 9,631 shares of the auto manufacturer’s stock worth $432,000 after acquiring an additional 1,478 shares during the period. Finally, Atlanta Consulting Group Advisors LLC acquired a new stake in shares of General Motors during the third quarter worth $267,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $53.00 price objective on shares of General Motors in a report on Tuesday, September 10th. Wells Fargo & Company raised their target price on shares of General Motors from $33.00 to $38.00 and gave the company an “underweight” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein raised their target price 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. Barclays raised their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wedbush raised their target price on shares of General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.92.

General Motors Stock Performance

Shares of GM stock opened at $56.26 on Tuesday. The company has a market capitalization of $61.86 billion, a price-to-earnings ratio of 6.00, a PEG ratio of 0.43 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. The company has a 50-day simple moving average of $49.90 and a 200 day simple moving average of $47.40. General Motors has a 52 week low of $27.70 and a 52 week high of $59.39.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS 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 net margin of 6.06% and a return on equity of 16.30%. General Motors’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.28 EPS. On average, sell-side analysts predict that General Motors will post 10.35 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed 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. This represents a $0.48 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the transaction, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mary T. Barra sold 506,824 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 694,548 shares of the company’s stock, valued at $37,040,244.84. The trade was a 42.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,511 shares of company stock worth $35,012,844 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

General Motors Company 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.