Atlanta Consulting Group Advisors LLC Buys New Position in General Motors (NYSE:GM)

Atlanta Consulting Group Advisors LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 3rd quarter, Holdings Channel reports. The fund bought 5,951 shares of the auto manufacturer’s stock, valued at approximately $267,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new stake in shares of General Motors during the 2nd quarter worth approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors in the third quarter worth $27,000. Wellington Shields Capital Management LLC bought a new stake in General Motors in the second quarter valued at $28,000. Fortitude Family Office LLC increased its stake in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC acquired a new position in shares of General Motors during the second quarter valued at about $33,000. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This trade represents a 42.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $47.31, for a total value of $108,907.62. Following the sale, the executive vice president now owns 10,356 shares in the company, valued at approximately $489,942.36. The trade was a 18.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 653,511 shares of company stock valued at $35,012,844. 0.72% of the stock is owned by insiders.

Analyst Ratings Changes

GM has been the subject of a number of research analyst reports. Nomura lowered General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research report on Monday, August 5th. Nomura Securities upgraded General Motors to a “strong sell” rating in a report on Monday, August 5th. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 target price on the stock. in a research report on Friday, October 11th. Sanford C. Bernstein lifted their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Finally, Wedbush upped their price objective on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus target price of $56.92.

General Motors Price Performance

GM opened at $57.04 on Monday. The firm has a market cap of $62.72 billion, a P/E ratio of 6.08, a PEG ratio of 0.43 and a beta of 1.40. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. General Motors has a fifty-two week low of $27.42 and a fifty-two week high of $59.39. The firm has a 50-day moving average of $49.72 and a 200 day moving average of $47.32.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.47. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business posted $2.28 EPS. General Motors’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, research analysts expect that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.84%. General Motors’s payout ratio is 5.12%.

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.