Wells Fargo & Company Issues Positive Forecast for General Motors (NYSE:GM) Stock Price

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective upped by Wells Fargo & Company from $35.00 to $37.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the auto manufacturer’s stock.

A number of other equities research analysts have also recently issued reports on GM. Royal Bank of Canada upped their price objective on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. DZ Bank cut General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a report on Friday, October 11th. Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.28.

General Motors Price Performance

NYSE GM opened at $49.85 on Wednesday. The business has a 50 day simple moving average of $53.04 and a 200 day simple moving average of $49.95. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a 52-week low of $37.40 and a 52-week high of $61.24. The stock has a market cap of $54.82 billion, a price-to-earnings ratio of 5.31, a PEG ratio of 0.38 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 16.30% and a net margin of 6.06%. Analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.96%. General Motors’s payout ratio is 5.12%.

Insider Activity at General Motors

In other news, President Mark L. Reuss sold 122,283 shares of the business’s stock in a transaction that occurred on 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 transaction, the president now owns 126,907 shares in the company, valued at $7,000,190.12. The trade was a 49.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 514,344 shares of company stock valued at $28,977,691. 0.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. raised its stake in shares of General Motors by 65.3% during the 4th quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer’s stock valued at $3,459,000 after purchasing an additional 25,639 shares during the period. Catalyst Financial Partners LLC boosted its holdings in General Motors by 5.1% in the 4th quarter. Catalyst Financial Partners LLC now owns 5,671 shares of the auto manufacturer’s stock valued at $302,000 after purchasing an additional 277 shares during the period. Asset Management One Co. Ltd. grew its position in shares of General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares in the last quarter. Intelligence Driven Advisers LLC purchased a new position in General Motors during the fourth quarter worth about $241,000. Finally, Avestar Capital LLC increased its stake in General Motors by 12.1% in the 4th quarter. Avestar Capital LLC now owns 10,751 shares of the auto manufacturer’s stock worth $573,000 after acquiring an additional 1,159 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

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.