Capital Investment Advisory Services LLC Reduces Stake in General Motors (NYSE:GM)

Capital Investment Advisory Services LLC decreased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 36.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,553 shares of the auto manufacturer’s stock after selling 2,653 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in General Motors were worth $243,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new position in shares of General Motors in the 2nd quarter valued at $25,000. Catalyst Capital Advisors LLC acquired a new position in General Motors in the third quarter valued at $27,000. Truvestments Capital LLC purchased a new position in shares of General Motors during the third quarter worth about $27,000. Sugar Maple Asset Management LLC purchased a new stake in shares of General Motors in the 4th quarter valued at about $31,000. Finally, Eastern Bank acquired a new stake in shares of General Motors in the 3rd quarter valued at about $34,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GM. Wedbush boosted their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Mizuho lifted their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Sanford C. Bernstein increased their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Finally, Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $61.28.

General Motors Stock Performance

Shares of GM opened at $49.46 on Friday. The company has a market capitalization of $49.21 billion, a PE ratio of 8.04, a P/E/G ratio of 0.28 and a beta of 1.42. General Motors has a 52-week low of $37.60 and a 52-week high of $61.24. The company has a 50-day simple moving average of $52.82 and a 200-day simple moving average of $49.95. The company has a quick ratio of 1.03, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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%. Equities research analysts predict that General Motors will post 11.45 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Activity

In other news, President Mark L. Reuss sold 122,283 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total transaction of $6,745,130.28. Following the completion of the transaction, the president now directly owns 126,907 shares of the company’s stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock worth $28,977,691 over the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

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.