Waterfront Wealth Inc. Sells 321 Shares of General Motors (NYSE:GM)

Waterfront Wealth Inc. lessened its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% in the fourth quarter, HoldingsChannel reports. The fund owned 52,681 shares of the auto manufacturer’s stock after selling 321 shares during the period. Waterfront Wealth Inc.’s holdings in General Motors were worth $1,892,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Blair William & Co. IL grew its holdings in shares of General Motors by 10.6% during the 1st quarter. Blair William & Co. IL now owns 157,520 shares of the auto manufacturer’s stock worth $6,890,000 after acquiring an additional 15,117 shares during the period. Aviva PLC lifted its position in General Motors by 32.7% in the 1st quarter. Aviva PLC now owns 278,485 shares of the auto manufacturer’s stock valued at $12,181,000 after acquiring an additional 68,683 shares in the last quarter. Moors & Cabot Inc. lifted its position in General Motors by 12.8% in the 1st quarter. Moors & Cabot Inc. now owns 10,767 shares of the auto manufacturer’s stock valued at $471,000 after acquiring an additional 1,225 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of General Motors by 13.9% during the 1st quarter. Brighton Jones LLC now owns 4,768 shares of the auto manufacturer’s stock valued at $208,000 after buying an additional 581 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of General Motors by 5.3% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 103,800 shares of the auto manufacturer’s stock valued at $4,540,000 after buying an additional 5,184 shares during the period. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 0.5 %

NYSE:GM traded down $0.20 during mid-day trading on Wednesday, hitting $42.46. The company had a trading volume of 10,592,374 shares, compared to its average volume of 17,462,830. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The business has a fifty day simple moving average of $41.50 and a 200-day simple moving average of $35.68. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $49.02 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.08. The business had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.12 earnings per share. Equities analysts forecast that General Motors will post 9.08 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 1.13%. General Motors’s dividend payout ratio is currently 6.57%.

Insiders Place Their Bets

In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the completion of the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Insiders have sold a total of 86,248 shares of company stock valued at $3,614,078 in the last quarter. Insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Barclays upped their price objective on General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TheStreet raised shares of General Motors from a “c+” rating to a “b-” rating in a report on Tuesday, March 19th. Royal Bank of Canada raised their price objective on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Mizuho raised their price objective on shares of General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Finally, The Goldman Sachs Group lifted their price target on shares of General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $51.57.

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.