Drive Wealth Management LLC Purchases New Stake in General Motors (NYSE:GM)

Drive Wealth Management LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,431 shares of the auto manufacturer’s stock, valued at approximately $236,000.

Several other hedge funds have also bought and sold shares of GM. Guerra Pan Advisors LLC lifted its stake in General Motors by 43.0% during the 4th quarter. Guerra Pan Advisors LLC now owns 11,139 shares of the auto manufacturer’s stock valued at $593,000 after acquiring an additional 3,350 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new stake in General Motors in the 4th quarter valued at about $215,000. DGS Capital Management LLC grew its holdings in General Motors by 3.9% during the 4th quarter. DGS Capital Management LLC now owns 48,342 shares of the auto manufacturer’s stock valued at $2,575,000 after buying an additional 1,800 shares in the last quarter. Curated Wealth Partners LLC grew its holdings in General Motors by 6.2% during the 4th quarter. Curated Wealth Partners LLC now owns 21,596 shares of the auto manufacturer’s stock valued at $1,150,000 after buying an additional 1,252 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of General Motors by 82.9% during the fourth quarter. Exchange Traded Concepts LLC now owns 362,501 shares of the auto manufacturer’s stock worth $19,310,000 after purchasing an additional 164,313 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Up 2.0 %

GM stock opened at $54.99 on Tuesday. The business’s 50-day moving average price is $53.17 and its 200-day moving average price is $49.90. 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 has a twelve month low of $34.93 and a twelve month high of $61.24. The stock has a market cap of $60.47 billion, a P/E ratio of 5.86, a PEG ratio of 0.38 and a beta of 1.42.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.87%. General Motors’s dividend payout ratio is presently 5.12%.

Insider Buying and Selling

In related news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares of the company’s stock, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 514,344 shares of company stock valued at $28,977,691. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

GM has been the subject of several research reports. JPMorgan Chase & Co. upped their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Barclays upped their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Wells Fargo & Company reduced their price target on General Motors from $38.00 to $35.00 and set an “underweight” rating on the stock in a research note on Monday, December 16th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.17.

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.