WCG Wealth Advisors LLC Sells 566 Shares of General Motors (NYSE:GM)

WCG Wealth Advisors LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,474 shares of the auto manufacturer’s stock after selling 566 shares during the quarter. WCG Wealth Advisors LLC’s holdings in General Motors were worth $812,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GM. Gryphon Financial Partners LLC bought a new position in General Motors in the 4th quarter worth $335,000. Gladstone Institutional Advisory LLC bought a new position in General Motors in the 4th quarter worth $218,000. Sachetta LLC bought a new position in General Motors in the 4th quarter worth $33,000. Quest Partners LLC bought a new position in General Motors in the 4th quarter worth $244,000. Finally, Assetmark Inc. raised its holdings in General Motors by 15.7% in the 4th quarter. Assetmark Inc. now owns 86,819 shares of the auto manufacturer’s stock worth $3,119,000 after purchasing an additional 11,811 shares during the period. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Motors news, EVP Rory Harvey sold 12,795 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $49.02, for a total transaction of $627,210.90. Following the completion of the transaction, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Paul A. Jacobson bought 25,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the transaction, the chief financial officer now directly owns 261,872 shares of the company’s stock, valued at $11,551,173.92. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on GM. Wolfe Research initiated coverage on General Motors in a report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Bank of America reissued a “buy” rating and set a $75.00 price target on shares of General Motors in a report on Wednesday, June 12th. Wells Fargo & Company decreased their price target on General Motors from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, September 10th. JPMorgan Chase & Co. raised their price target on General Motors from $60.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 price target on the stock. in a report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.27.

General Motors Trading Down 0.1 %

Shares of General Motors stock opened at $48.62 on Friday. The firm has a market cap of $55.47 billion, a price-to-earnings ratio of 5.94, a PEG ratio of 0.52 and a beta of 1.43. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average price of $46.28 and a 200-day moving average price of $45.17.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.67 by $0.39. The company had revenue of $47.97 billion during the quarter, compared to analyst estimates of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The firm’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $1.91 earnings per share. Equities research analysts anticipate that General Motors will post 9.95 EPS for the current fiscal year.

General Motors announced that its board has authorized a stock buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Friday, September 6th were given a $0.12 dividend. The ex-dividend date was Friday, September 6th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio is currently 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.