Transcend Capital Advisors LLC Reduces Stock Position in General Motors (NYSE:GM)

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

Other institutional investors have also added to or reduced their stakes in the company. SouthState Corp boosted its position in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after buying an additional 485 shares during the period. Highlander Capital Management LLC purchased a new stake in shares of General Motors in the 4th quarter worth about $27,000. BluePath Capital Management LLC purchased a new stake in shares of General Motors in the 3rd quarter worth about $33,000. Bfsg LLC purchased a new stake in shares of General Motors in the 4th quarter worth about $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of General Motors in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 0.5 %

NYSE:GM traded up $0.22 on Friday, reaching $45.84. 12,153,282 shares of the stock traded hands, compared to its average volume of 13,652,336. The company has a market capitalization of $52.30 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.53 and a beta of 1.51. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The company’s fifty day simple moving average is $42.27 and its 200 day simple moving average is $36.32.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. General Motors’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the business earned $2.21 EPS. Equities analysts predict that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Announces Dividend

The business 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 payout ratio is presently 5.87%.

Analyst Ratings Changes

GM has been the subject of several research analyst reports. UBS Group raised their target price on shares of General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada raised their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group raised their target price on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target for the company in a research note on Thursday, January 4th. Finally, Morgan Stanley increased their price target on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

Insider Activity

In other news, CAO Christopher Hatto sold 15,510 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following 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, CAO Christopher Hatto sold 15,510 shares of the firm’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 value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 5,100 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares in the company, valued at approximately $544,800.32. 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 90 days. 0.54% of the stock is currently owned by insiders.

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.