Procyon Advisors LLC Sells 4,263 Shares of General Motors (NYSE:GM)

Procyon Advisors LLC lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,576 shares of the auto manufacturer’s stock after selling 4,263 shares during the quarter. Procyon Advisors LLC’s holdings in General Motors were worth $847,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Penserra Capital Management LLC boosted its holdings in shares of General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares in the last quarter. VisionPoint Advisory Group LLC purchased a new position in General Motors during the 2nd quarter worth $25,000. SouthState Corp raised its stake in General Motors by 173.8% in the third 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 last quarter. BluePath Capital Management LLC acquired a new position in shares of General Motors during the third quarter valued at about $33,000. Finally, VitalStone Financial LLC raised its holdings in shares of General Motors by 8,026.7% in the first quarter. VitalStone Financial LLC now owns 1,219 shares of the auto manufacturer’s stock worth $71,000 after buying an additional 1,204 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 $860,710.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, 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 value of $219,504.00. Following the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The stock was 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 $860,710.14. The disclosure for this sale can be found here. Insiders sold 55,626 shares of company stock valued at $2,229,036 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

General Motors Stock Up 1.3 %

NYSE:GM traded up $0.58 during mid-day trading on Thursday, hitting $45.17. The company had a trading volume of 2,618,546 shares, compared to its average volume of 18,300,623. The business has a fifty day simple moving average of $39.08 and a 200-day simple moving average of $34.46. The firm has a market capitalization of $52.15 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 0.54 and a beta of 1.50. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. General Motors has a 1 year low of $26.30 and a 1 year high of $45.54.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The company had revenue of $42.98 billion for the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 EPS. Equities analysts forecast that General Motors will post 9 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Friday, March 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. This is a positive change from General Motors’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, February 29th. General Motors’s payout ratio is presently 6.57%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler initiated coverage on shares of General Motors in a report on Friday, March 15th. They issued a “neutral” rating and a $44.00 price target on the stock. Royal Bank of Canada increased their price objective on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. HSBC began coverage on General Motors in a report on Monday, December 4th. They issued a “buy” rating and a $41.30 target price for the company. Mizuho raised their price objective on General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Barclays boosted their price objective on General Motors from $37.00 to $44.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $50.63.

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.