General Motors (NYSE:GM) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,575 shares of the auto manufacturer’s stock after selling 847 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in General Motors were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new position in General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new position in General Motors during the fourth quarter worth about $26,000. Catalyst Capital Advisors LLC acquired a new position in General Motors during the third quarter worth about $27,000. Truvestments Capital LLC acquired a new position in General Motors during the third quarter worth about $27,000. Finally, Compass Planning Associates Inc acquired a new position in General Motors during the fourth quarter worth about $27,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 2.7 %

Shares of GM opened at $47.15 on Friday. The firm has a market cap of $46.92 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company’s fifty day moving average is $49.84 and its two-hundred day moving average is $50.43. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is presently 7.80%.

General Motors declared that its board has initiated a share repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

GM has been the topic of several recent research reports. UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Mizuho upped their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Finally, Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $59.71.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.72% of the company’s stock.

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.