Welch & Forbes LLC Sells 4,087 Shares of General Motors (NYSE:GM)

Welch & Forbes LLC lowered its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 11.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,176 shares of the auto manufacturer’s stock after selling 4,087 shares during the quarter. Welch & Forbes LLC’s holdings in General Motors were worth $1,192,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Apollon Wealth Management LLC boosted its position in General Motors by 51.9% during the 4th quarter. Apollon Wealth Management LLC now owns 18,110 shares of the auto manufacturer’s stock worth $651,000 after acquiring an additional 6,186 shares during the last quarter. River Global Investors LLP grew its position in General Motors by 3.5% in the fourth quarter. River Global Investors LLP now owns 64,923 shares of the auto manufacturer’s stock valued at $2,332,000 after purchasing an additional 2,178 shares in the last quarter. Vestmark Advisory Solutions Inc. acquired a new stake in General Motors in the 4th quarter valued at $113,000. First National Trust Co lifted its position in General Motors by 2.5% during the 4th quarter. First National Trust Co now owns 16,498 shares of the auto manufacturer’s stock worth $593,000 after buying an additional 410 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its stake in shares of General Motors by 7.8% during the 4th quarter. Axxcess Wealth Management LLC now owns 38,197 shares of the auto manufacturer’s stock worth $1,372,000 after buying an additional 2,753 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Tigress Financial raised their target price on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. Citigroup upped their price objective on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Barclays lifted their target price on General Motors from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, StockNews.com raised General Motors from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $54.65.

General Motors Trading Up 0.0 %

Shares of NYSE:GM traded up $0.01 during trading on Wednesday, reaching $45.29. The stock had a trading volume of 2,812,319 shares, compared to its average volume of 16,852,449. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The firm’s fifty day moving average is $43.05 and its 200 day moving average is $37.11. The stock has a market cap of $51.67 billion, a price-to-earnings ratio of 5.54, a P/E/G ratio of 0.53 and a beta of 1.49.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter in the prior year, the company earned $2.21 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that General Motors will post 9.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th 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 1.06%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Insider Buying and Selling

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 5,100 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock worth $3,614,078 in the last ninety days. Corporate 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.