Warren Averett Asset Management LLC Acquires New Position in General Motors Company (GM)

Warren Averett Asset Management LLC acquired a new stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,760 shares of the auto manufacturer’s stock, valued at approximately $233,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GM. YorkBridge Wealth Partners LLC raised its stake in General Motors by 43.5% during the second quarter. YorkBridge Wealth Partners LLC now owns 2,838 shares of the auto manufacturer’s stock valued at $101,000 after buying an additional 860 shares in the last quarter. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of General Motors during the 1st quarter worth approximately $106,000. FNY Managed Accounts LLC acquired a new stake in shares of General Motors during the 1st quarter worth approximately $107,000. State of Alaska Department of Revenue raised its position in shares of General Motors by 10.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 3,249 shares of the auto manufacturer’s stock worth $113,000 after purchasing an additional 310 shares during the period. Finally, Ffcm LLC raised its position in shares of General Motors by 2,008.1% during the 2nd quarter. Ffcm LLC now owns 3,373 shares of the auto manufacturer’s stock worth $120,000 after purchasing an additional 3,213 shares during the period. Hedge funds and other institutional investors own 72.83% of the company’s stock.

A number of analysts have recently weighed in on the company. Instinet cut General Motors from a “buy” rating to a “neutral” rating and increased their price target for the stock from $42.90 to $43.00 in a research report on Wednesday. Nomura cut General Motors from a “buy” rating to a “hold” rating and increased their price target for the stock from $43.00 to $46.00 in a research report on Wednesday. Jefferies Group LLC increased their price target on General Motors from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday. Goldman Sachs Group, Inc. (The) cut General Motors from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $43.16 to $32.00 in a research report on Monday. Finally, Deutsche Bank AG increased their price target on General Motors from $51.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $43.32.

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In other news, insider Alan S. Batey sold 8,144 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $35.57, for a total value of $289,682.08. Following the completion of the transaction, the insider now owns 66,748 shares of the company’s stock, valued at approximately $2,374,226.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Alan S. Batey sold 234,274 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $38.04, for a total transaction of $8,911,782.96. Following the completion of the transaction, the insider now directly owns 67,548 shares of the company’s stock, valued at approximately $2,569,525.92. The disclosure for this sale can be found here. Insiders sold a total of 979,266 shares of company stock valued at $40,917,634 in the last three months. 0.04% of the stock is owned by company insiders.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, October 24th. The auto manufacturer reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.25. General Motors had a net margin of 2.00% and a return on equity of 20.95%. The firm had revenue of $30.48 billion during the quarter, compared to analyst estimates of $29.93 billion. During the same quarter in the previous year, the business earned $1.72 EPS. The business’s quarterly revenue was down 16.6% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Friday, December 8th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, December 7th. General Motors’s dividend payout ratio (DPR) is 77.95%.

About General Motors

General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.

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

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