Independent Wealth Network Inc. Purchases Shares of 5,598 General Motors (NYSE:GM)

Independent Wealth Network Inc. acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,598 shares of the auto manufacturer’s stock, valued at approximately $298,000.

Several other hedge funds also recently modified their holdings of GM. Strategic Investment Solutions Inc. IL bought a new stake in General Motors during the second quarter worth $25,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the 3rd quarter valued at about $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors in the 3rd quarter valued at about $27,000. Sugar Maple Asset Management LLC bought a new stake in shares of General Motors in the 4th quarter valued at about $31,000. Finally, Eastern Bank acquired a new stake in General Motors in the 3rd quarter valued at about $34,000. Institutional investors own 92.67% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Craig B. Glidden sold 383,142 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. This represents a 75.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 514,344 shares of company stock worth $28,977,691 over the last three months. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Sanford C. Bernstein upped their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday, October 25th. UBS Group increased their price target on General Motors from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Royal Bank of Canada raised their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Barclays upped their price target on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.05.

General Motors Trading Up 3.0 %

GM opened at $54.32 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. General Motors has a twelve month low of $34.56 and a twelve month high of $61.24. The stock has a market capitalization of $59.73 billion, a price-to-earnings ratio of 5.79, a P/E/G ratio of 0.39 and a beta of 1.42. The company has a 50-day simple moving average of $53.30 and a 200 day simple moving average of $49.76.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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 business had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the business posted $2.28 EPS. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. Analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

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.