General Motors (NYSE:GM) Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its position in General Motors (NYSE:GM) (TSE:GMM.U) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,500 shares of the auto manufacturer’s stock after selling 6,600 shares during the quarter. Forsta AP Fonden’s holdings in General Motors were worth $12,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Patton Fund Management Inc. acquired a new position in shares of General Motors in the fourth quarter valued at approximately $4,215,000. R Squared Ltd purchased a new position in General Motors in the 4th quarter valued at approximately $231,000. Barry Investment Advisors LLC acquired a new position in shares of General Motors in the fourth quarter worth $220,000. Perigon Wealth Management LLC increased its position in shares of General Motors by 2.8% during the fourth quarter. Perigon Wealth Management LLC now owns 19,443 shares of the auto manufacturer’s stock worth $1,008,000 after acquiring an additional 532 shares during the period. Finally, Nilsine Partners LLC raised its stake in shares of General Motors by 1.9% in the fourth quarter. Nilsine Partners LLC now owns 24,485 shares of the auto manufacturer’s stock valued at $1,304,000 after acquiring an additional 466 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wedbush boosted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price objective on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Wednesday. Finally, HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $61.28.

General Motors Price Performance

Shares of NYSE GM opened at $49.85 on Thursday. The stock has a market cap of $54.82 billion, a price-to-earnings ratio of 5.31, a PEG ratio of 0.38 and a beta of 1.42. General Motors has a 52 week low of $37.40 and a 52 week high of $61.24. The company’s 50-day moving average price is $53.04 and its 200 day moving average price is $49.95. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 6.06% and a return on equity of 16.30%. As a group, research analysts forecast that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.96%. General Motors’s dividend payout ratio is presently 5.12%.

Insider Activity at General Motors

In other General Motors news, President Mark L. Reuss sold 122,283 shares of General Motors stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the transaction, the president now owns 126,907 shares of the company’s stock, valued at $7,000,190.12. The trade was a 49.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 514,344 shares of company stock worth $28,977,691. Company insiders own 0.72% 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.