Transcend Capital Advisors LLC Sells 22,982 Shares of General Motors (NYSE:GM)

Transcend Capital Advisors LLC cut its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 30.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,710 shares of the auto manufacturer’s stock after selling 22,982 shares during the quarter. Transcend Capital Advisors LLC’s holdings in General Motors were worth $1,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GM. Highlander Capital Management LLC acquired a new position in shares of General Motors during the 4th quarter worth about $27,000. SouthState Corp increased its stake in shares of General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares during the last quarter. Bfsg LLC acquired a new position in shares of General Motors during the 4th quarter worth about $35,000. Tennessee Valley Asset Management Partners acquired a new position in shares of General Motors during the 4th quarter worth about $36,000. Finally, BluePath Capital Management LLC acquired a new position in shares of General Motors during the 3rd quarter worth about $33,000. 92.67% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GM shares. UBS Group boosted their price objective on shares of General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada upped their price target on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. Tigress Financial upped their price target on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. Mizuho upped their price target on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Piper Sandler upped their price target on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $54.65.

General Motors Price Performance

Shares of General Motors stock traded up $0.22 on Friday, reaching $45.84. 12,153,282 shares of the stock were exchanged, compared to its average volume of 13,652,336. The firm’s 50 day moving average is $42.27 and its 200-day moving average is $36.32. General Motors has a one year low of $26.30 and a one year high of $46.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.90 and a current ratio of 1.16. The firm has a market cap of $52.30 billion, a PE ratio of 5.60, a P/E/G ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the firm posted $2.21 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts anticipate that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Gerald Johnson sold 27,122 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,248 shares of company stock valued at $3,614,078. Company insiders own 0.54% of the company’s stock.

General Motors 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.