Calamos Advisors LLC Sells 4,049 Shares of General Motors (NYSE:GM)

Calamos Advisors LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 553,423 shares of the auto manufacturer’s stock after selling 4,049 shares during the period. Calamos Advisors LLC’s holdings in General Motors were worth $19,879,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in General Motors by 1.4% in the third quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after acquiring an additional 1,580,681 shares during the period. State Street Corp lifted its stake in General Motors by 0.7% in the first quarter. State Street Corp now owns 56,981,032 shares of the auto manufacturer’s stock worth $2,090,060,000 after acquiring an additional 383,957 shares during the period. Morgan Stanley lifted its stake in General Motors by 1.3% in the third quarter. Morgan Stanley now owns 15,212,672 shares of the auto manufacturer’s stock worth $501,562,000 after acquiring an additional 201,080 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in General Motors by 80.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock worth $538,747,000 after acquiring an additional 6,548,022 shares during the period. Finally, Norges Bank purchased a new stake in General Motors in the fourth quarter worth about $493,248,000. 92.67% of the stock is currently owned by institutional investors.

Insider Transactions at General Motors

In related news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other General Motors news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the sale, the chief accounting officer now directly owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

General Motors Stock Performance

NYSE:GM traded up $0.32 during midday trading on Friday, hitting $42.76. The company’s stock had a trading volume of 1,906,991 shares, compared to its average volume of 17,207,977. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04. The firm’s 50 day moving average is $41.57 and its 200-day moving average is $35.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.08 and a quick ratio of 0.90. The firm has a market cap of $49.36 billion, a P/E ratio of 5.81, a P/E/G ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.08. The business had revenue of $42.98 billion for the quarter, compared to analysts’ expectations of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter last year, the company earned $2.12 EPS. Equities analysts anticipate that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were paid a dividend of $0.12 per share. This is a boost from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.12%. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GM. Piper Sandler started coverage on shares of General Motors in a research note on Friday, March 15th. They issued a “neutral” rating and a $44.00 price objective for the company. The Goldman Sachs Group increased their price target on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research raised shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research report on Thursday, January 4th. Tigress Financial increased their price target on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 15th. Finally, Wells Fargo & Company increased their price target on shares of General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.57.

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.