General Motors (NYSE:GM) Stock Position Raised by Concord Wealth Partners

Concord Wealth Partners boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 18.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,707 shares of the auto manufacturer’s stock after buying an additional 748 shares during the quarter. Concord Wealth Partners’ holdings in General Motors were worth $211,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. lifted its position in shares of General Motors by 34.5% in the second quarter. SJS Investment Consulting Inc. now owns 792 shares of the auto manufacturer’s stock worth $37,000 after purchasing an additional 203 shares in the last quarter. Allworth Financial LP lifted its position in General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after buying an additional 205 shares in the last quarter. Fortitude Family Office LLC lifted its position in General Motors by 56.1% in the 2nd quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after buying an additional 225 shares in the last quarter. SeaCrest Wealth Management LLC boosted its stake in shares of General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock valued at $316,000 after buying an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. grew its holdings in shares of General Motors by 0.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock valued at $1,702,000 after acquiring an additional 230 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of NYSE GM opened at $52.71 on Tuesday. General Motors has a 12 month low of $26.30 and a 12 month high of $54.29. The company has a market cap of $59.24 billion, a P/E ratio of 5.62, a P/E/G ratio of 0.60 and a beta of 1.42. The business’s 50 day moving average is $47.95 and its two-hundred day moving average is $46.28. The company has a quick ratio of 0.99, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. The business had revenue of $48.76 billion for 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 quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $2.28 earnings per share. On average, equities analysts expect that General Motors will post 10.05 EPS for the current year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Friday, December 6th. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Ratings Changes

A number of research firms recently issued reports on GM. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley downgraded General Motors from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $47.00 to $42.00 in a research note on Wednesday, September 25th. The Goldman Sachs Group boosted their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Sanford C. Bernstein raised their price objective 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. Finally, Barclays boosted their target price on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.92.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other General Motors news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction 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 sale, the chief executive officer now owns 694,548 shares in the company, valued at $37,040,244.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 2,302 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares of the company’s stock, valued at approximately $489,942.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 531,228 shares of company stock worth $28,267,714. Company 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.