SeaCrest Wealth Management LLC Sells 5,102 Shares of General Motors (NYSE:GM)

SeaCrest Wealth Management LLC lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 43.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,577 shares of the auto manufacturer’s stock after selling 5,102 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in General Motors were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Highlander Capital Management LLC bought a new stake in shares of General Motors in the 4th quarter worth approximately $27,000. Cape Investment Advisory Inc. raised its holdings in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares during the period. Sachetta LLC bought a new stake in shares of General Motors in the 4th quarter worth approximately $33,000. Bfsg LLC bought a new stake in shares of General Motors in the 4th quarter worth approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors in the 4th quarter worth approximately $36,000. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,152,621 shares of company stock valued at $51,818,111. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Royal Bank of Canada lifted their price target on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Bank of America reissued a “buy” rating and set a $75.00 target price on shares of General Motors in a report on Wednesday, June 12th. Sanford C. Bernstein initiated coverage on shares of General Motors in a report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. Piper Sandler boosted their target price on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Citigroup boosted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and a consensus price target of $54.91.

General Motors Stock Down 0.6 %

Shares of NYSE:GM opened at $46.68 on Thursday. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35. The firm has a fifty day moving average of $45.70 and a 200 day moving average of $41.61. The firm has a market capitalization of $53.26 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.21 earnings per share. As a group, research analysts anticipate that General Motors will post 9.43 EPS for the current fiscal year.

General Motors declared that its board has initiated a share buyback program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

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.