Axxcess Wealth Management LLC Acquires 2,753 Shares of General Motors (NYSE:GM)

Axxcess Wealth Management LLC increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.8% during the fourth quarter, HoldingsChannel reports. The firm owned 38,197 shares of the auto manufacturer’s stock after buying an additional 2,753 shares during the period. Axxcess Wealth Management LLC’s holdings in General Motors were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Acadian Asset Management LLC boosted its stake in shares of General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after buying an additional 4,275,293 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of General Motors by 32.6% in the third quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after buying an additional 2,049,412 shares during the period. Vanguard Group Inc. grew its stake in shares of General Motors by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock valued at $3,674,861,000 after acquiring an additional 1,580,681 shares during the period. EP Wealth Advisors LLC increased its holdings in General Motors by 518.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after acquiring an additional 1,068,474 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in General Motors by 175.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,615,483 shares of the auto manufacturer’s stock worth $53,262,000 after acquiring an additional 1,028,508 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of NYSE GM opened at $45.11 on Monday. The firm has a market cap of $51.47 billion, a P/E ratio of 5.48, a P/E/G ratio of 0.53 and a beta of 1.49. The business’s 50 day moving average price is $42.84 and its 200 day moving average price is $36.89. The company has a quick ratio of 0.97, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a 52 week low of $26.30 and a 52 week high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the firm earned $2.21 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 9.44 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s payout ratio is presently 5.87%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GM. Citigroup increased their price objective on shares of General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. UBS Group lifted their price target on General Motors from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft increased their target price on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. The Goldman Sachs Group increased their price objective on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, StockNews.com raised shares of General Motors from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.65.

Insiders Place Their Bets

In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Gerald Johnson sold 15,190 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the sale, the executive vice president now directly owns 98,628 shares in the company, valued at $3,948,078.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the transaction, the executive vice president now owns 87,567 shares in the company, valued at approximately $3,348,562.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 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.