Successful Portfolios LLC Purchases New Holdings in General Motors (NYSE:GM)


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Successful Portfolios LLC purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,118 shares of the auto manufacturer’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Global Trust Asset Management LLC increased its stake in shares of General Motors by 4,715.4% in the 4th quarter. Global Trust Asset Management LLC now owns 626 shares of the auto manufacturer’s stock valued at $26,000 after purchasing an additional 613 shares during the last quarter. DB Wealth Management Group LLC bought a new stake in General Motors during the 4th quarter worth $27,000. Danda Trouve Investment Management Inc. lifted its holdings in General Motors by 1,200.0% during the 4th quarter. Danda Trouve Investment Management Inc. now owns 650 shares of the auto manufacturer’s stock worth $27,000 after buying an additional 600 shares during the period. Carroll Financial Associates Inc. lifted its holdings in General Motors by 43.8% during the 1st quarter. Carroll Financial Associates Inc. now owns 657 shares of the auto manufacturer’s stock worth $37,000 after buying an additional 200 shares during the period. Finally, First PREMIER Bank increased its holdings in General Motors by 40.0% during the 1st quarter. First PREMIER Bank now owns 700 shares of the auto manufacturer’s stock worth $40,000 after purchasing an additional 200 shares in the last quarter. Institutional investors own 77.70% of the company’s stock.

A number of analysts have commented on GM shares. TheStreet raised General Motors from a “c+” rating to a “b” rating in a report on Wednesday, February 10th. Citigroup upped their target price on General Motors from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 25th. Royal Bank of Canada upped their target price on General Motors from $52.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, February 11th. Morgan Stanley set a $80.00 target price on General Motors and gave the company an “underweight” rating in a report on Friday, January 29th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded General Motors from a “hold” rating to a “strong sell” rating and set a $51.00 price objective on the stock. in a research note on Tuesday, April 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and seventeen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $59.95.

In other news, EVP Randall D. Mott sold 60,000 shares of the business’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $62.03, for a total transaction of $3,721,800.00. Following the completion of the sale, the executive vice president now owns 116,113 shares of the company’s stock, valued at approximately $7,202,489.39. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julian G. Blissett sold 15,533 shares of the business’s stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $62.03, for a total transaction of $963,511.99. Following the sale, the executive vice president now directly owns 49,926 shares of the company’s stock, valued at approximately $3,096,909.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,571,239 shares of company stock valued at $91,396,320. 0.65% of the stock is currently owned by insiders.

Shares of GM traded down $0.25 on Thursday, hitting $57.24. 360,316 shares of the stock traded hands, compared to its average volume of 24,182,508. The company has a market capitalization of $82.48 billion, a PE ratio of 25.78, a P/E/G ratio of 0.85 and a beta of 1.42. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.97 and a current ratio of 1.11. The business has a 50 day simple moving average of $57.66 and a 200 day simple moving average of $47.32. General Motors has a one year low of $20.12 and a one year high of $63.44.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, February 9th. The auto manufacturer reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.33. General Motors had a net margin of 2.92% and a return on equity of 9.78%. The company had revenue of $37.50 billion during the quarter, compared to the consensus estimate of $36.34 billion. During the same quarter last year, the firm earned $0.05 earnings per share. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts expect that General Motors will post 4.68 earnings per share for the current year.

General Motors Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts 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, Holden, Baojun, and Wuling brand names.

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

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