Pinnacle Wealth Planning Services Inc. Reduces Stock Holdings in General Motors (NYSE:GM)

Pinnacle Wealth Planning Services Inc. cut its position in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,460 shares of the auto manufacturer’s stock after selling 3,118 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in General Motors were worth $340,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GM. Handelsbanken Fonder AB increased its stake in shares of General Motors by 18.5% in the fourth quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after purchasing an additional 74,194 shares in the last quarter. Cerity Partners LLC raised its holdings in General Motors by 361.1% during the 4th quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock valued at $4,300,000 after acquiring an additional 93,754 shares during the period. Foundry Partners LLC lifted its position in shares of General Motors by 15.0% during the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock worth $12,992,000 after acquiring an additional 51,336 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of General Motors by 10.5% in the third quarter. Public Sector Pension Investment Board now owns 147,383 shares of the auto manufacturer’s stock worth $4,859,000 after acquiring an additional 14,002 shares during the period. Finally, AM Squared Ltd grew its position in shares of General Motors by 195.0% in the fourth quarter. AM Squared Ltd now owns 41,300 shares of the auto manufacturer’s stock valued at $1,483,000 after purchasing an additional 27,300 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders sold a total of 86,248 shares of company stock worth $3,614,078 over the last quarter. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GM. Deutsche Bank Aktiengesellschaft raised their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday, April 23rd. UBS Group raised their price target on shares of General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Citigroup increased their price objective on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada raised their price target on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.65.

Get Our Latest Analysis on GM

General Motors Trading Up 0.9 %

Shares of GM traded up $0.42 during trading hours on Wednesday, hitting $45.45. The company had a trading volume of 4,130,417 shares, compared to its average volume of 16,498,516. The stock’s 50 day moving average price is $43.48 and its 200 day moving average price is $37.69. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a 52-week low of $26.30 and a 52-week high of $46.17. The firm has a market cap of $51.86 billion, a P/E ratio of 5.56, a P/E/G ratio of 0.53 and a beta of 1.49.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same quarter last year, the firm earned $2.21 EPS. The company’s revenue was up 7.6% on a year-over-year basis. On average, research analysts predict that General Motors will post 9.4 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

About General Motors

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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