General Motors (NYSE:GM) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC raised its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 13.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,460 shares of the auto manufacturer’s stock after acquiring an additional 752 shares during the period. EverSource Wealth Advisors LLC’s holdings in General Motors were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Unison Advisors LLC lifted its position in shares of General Motors by 0.4% during the 1st quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after buying an additional 246 shares during the last quarter. Janiczek Wealth Management LLC lifted its position in shares of General Motors by 5.2% during the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock worth $230,000 after buying an additional 248 shares during the last quarter. SkyOak Wealth LLC raised its position in General Motors by 3.0% in the 1st quarter. SkyOak Wealth LLC now owns 8,727 shares of the auto manufacturer’s stock valued at $396,000 after purchasing an additional 252 shares during the last quarter. Bell Investment Advisors Inc raised its position in General Motors by 39.7% in the 1st quarter. Bell Investment Advisors Inc now owns 897 shares of the auto manufacturer’s stock valued at $41,000 after purchasing an additional 255 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its position in General Motors by 2.2% in the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 12,013 shares of the auto manufacturer’s stock valued at $545,000 after purchasing an additional 258 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent research reports. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Royal Bank of Canada upped their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Wells Fargo & Company upped their price target on shares of General Motors from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 24th. Morgan Stanley cut shares of General Motors from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.38.

General Motors Price Performance

Shares of NYSE:GM traded down $2.20 during midday trading on Friday, reaching $41.17. The company’s stock had a trading volume of 21,627,018 shares, compared to its average volume of 15,552,034. The business’s fifty day simple moving average is $46.40 and its 200-day simple moving average is $43.28. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. The company has a market capitalization of $46.97 billion, a P/E ratio of 5.03, a P/E/G ratio of 0.44 and a beta of 1.43. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $50.50.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. During the same quarter last year, the business earned $1.91 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts expect that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

General Motors announced that its board has initiated a stock buyback plan on Tuesday, June 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, President Mark L. Reuss sold 150,000 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares in the company, valued at approximately $7,684,840.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Paul A. Jacobson bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were acquired at an average cost of $44.11 per share, for a total transaction of $1,102,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 261,872 shares in the company, valued at approximately $11,551,173.92. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock worth $51,818,111. Insiders own 0.72% of the company’s stock.

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.