Kingsview Wealth Management LLC Buys Shares of 6,354 General Motors (NYSE:GM)

Posted by Defense World Staff on Jun 12th, 2023

Kingsview Wealth Management LLC bought a new stake in General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,354 shares of the auto manufacturer’s stock, valued at approximately $214,000.

Several other institutional investors also recently modified their holdings of the company. BOKF NA grew its holdings in shares of General Motors by 18.8% during the 4th quarter. BOKF NA now owns 38,309 shares of the auto manufacturer’s stock worth $1,289,000 after purchasing an additional 6,074 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in shares of General Motors by 3.2% during the 4th quarter. Schechter Investment Advisors LLC now owns 8,578 shares of the auto manufacturer’s stock worth $289,000 after buying an additional 269 shares during the period. Panagora Asset Management Inc. lifted its position in shares of General Motors by 53.2% during the 4th quarter. Panagora Asset Management Inc. now owns 1,003,067 shares of the auto manufacturer’s stock worth $33,743,000 after buying an additional 348,278 shares during the period. Seeyond lifted its position in shares of General Motors by 74.5% during the 4th quarter. Seeyond now owns 10,951 shares of the auto manufacturer’s stock worth $368,000 after buying an additional 4,676 shares during the period. Finally, Ossiam bought a new position in shares of General Motors during the 4th quarter worth approximately $103,000. Institutional investors and hedge funds own 78.92% of the company’s stock.

Insider Activity

In other news, CFO Paul A. Jacobson purchased 31,000 shares of the company’s stock in a transaction dated Friday, May 19th. The stock was bought at an average cost of $32.60 per share, for a total transaction of $1,010,600.00. Following the purchase, the chief financial officer now owns 186,847 shares of the company’s stock, valued at $6,091,212.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by corporate insiders.

General Motors Stock Up 1.5 %

GM traded up $0.55 on Monday, hitting $36.78. 6,893,368 shares of the company were exchanged, compared to its average volume of 14,951,055. General Motors has a 12 month low of $30.33 and a 12 month high of $43.63. The company has a market cap of $51.13 billion, a PE ratio of 5.60, a PEG ratio of 0.54 and a beta of 1.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 1.10. The stock’s fifty day moving average is $33.76 and its 200-day moving average is $36.25.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 25th. The auto manufacturer reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.68. The business had revenue of $39.99 billion for the quarter, compared to the consensus estimate of $39.38 billion. General Motors had a return on equity of 15.74% and a net margin of 5.84%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. Equities research analysts predict that General Motors will post 6.84 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 15th. Stockholders of record on Friday, June 2nd will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, June 1st. General Motors’s payout ratio is 5.56%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Mizuho cut their target price on General Motors from $39.00 to $37.00 in a research report on Wednesday, April 26th. Morgan Stanley upgraded General Motors from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $35.00 to $38.00 in a research report on Monday, May 1st. Citigroup lifted their price objective on General Motors from $79.00 to $85.00 in a research report on Monday, June 5th. Barclays cut their price objective on General Motors from $45.00 to $42.00 in a research report on Wednesday, April 26th. Finally, StockNews.com started coverage on General Motors in a research report on Thursday, May 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $49.81.

General Motors Profile

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General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.