Axxcess Wealth Management LLC Trims Position in General Motors (NYSE:GM)

Axxcess Wealth Management LLC cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,773 shares of the auto manufacturer’s stock after selling 1,772 shares during the period. Axxcess Wealth Management LLC’s holdings in General Motors were worth $1,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Trust Point Inc. boosted its holdings in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after buying an additional 193 shares in the last quarter. Avestar Capital LLC boosted its holdings in shares of General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after buying an additional 213 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after buying an additional 213 shares in the last quarter. Holistic Planning LLC boosted its holdings in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after buying an additional 214 shares in the last quarter. Finally, Norden Group LLC boosted its holdings in shares of General Motors by 3.0% in the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after buying an additional 229 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Mizuho lifted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Finally, Cowen initiated coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.89.

General Motors Price Performance

NYSE:GM opened at $49.84 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market cap of $49.59 billion, a price-to-earnings ratio of 8.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a 50 day moving average price of $49.05 and a 200-day moving average price of $50.47. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

General Motors announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.72% of the company’s stock.

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.