Waterfront Wealth Inc. Has $1.89 Million Position in General Motors (NYSE:GM)

Waterfront Wealth Inc. lowered its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,681 shares of the auto manufacturer’s stock after selling 321 shares during the quarter. Waterfront Wealth Inc.’s holdings in General Motors were worth $1,892,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of GM. Blair William & Co. IL raised its position in shares of General Motors by 10.6% during the first quarter. Blair William & Co. IL now owns 157,520 shares of the auto manufacturer’s stock worth $6,890,000 after purchasing an additional 15,117 shares during the period. Aviva PLC raised its position in General Motors by 32.7% in the 1st quarter. Aviva PLC now owns 278,485 shares of the auto manufacturer’s stock valued at $12,181,000 after buying an additional 68,683 shares during the last quarter. Moors & Cabot Inc. raised its position in General Motors by 12.8% in the 1st quarter. Moors & Cabot Inc. now owns 10,767 shares of the auto manufacturer’s stock valued at $471,000 after buying an additional 1,225 shares during the last quarter. Brighton Jones LLC raised its position in General Motors by 13.9% in the 1st quarter. Brighton Jones LLC now owns 4,768 shares of the auto manufacturer’s stock valued at $208,000 after buying an additional 581 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its position in General Motors by 5.3% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 103,800 shares of the auto manufacturer’s stock valued at $4,540,000 after buying an additional 5,184 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. Wedbush lifted their target price on General Motors from $40.00 to $45.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler began coverage on General Motors in a research report on Friday, March 15th. They issued a “neutral” rating and a $44.00 target price on the stock. Royal Bank of Canada lifted their target price on General Motors from $52.00 to $54.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Barclays lifted their target price on General Motors from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Finally, Mizuho raised their price target on General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.57.

General Motors Stock Performance

Shares of NYSE GM traded down $0.20 during midday trading on Wednesday, hitting $42.46. 10,592,374 shares of the company’s stock were exchanged, compared to its average volume of 17,462,830. The company has a quick ratio of 0.90, a current ratio of 1.08 and a debt-to-equity ratio of 1.21. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The company’s 50 day moving average price is $41.50 and its 200 day moving average price is $35.68. The firm has a market capitalization of $49.02 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.52 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. During the same period in the previous year, the company posted $2.12 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts predict that General Motors will post 9.08 earnings per share for the current fiscal year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were issued a dividend of $0.12 per share. This is a boost from General Motors’s previous quarterly dividend of $0.09. This represents a $0.48 annualized dividend and a yield of 1.13%. The ex-dividend date was Thursday, February 29th. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total transaction of $219,504.00. Following the completion of the sale, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at approximately $544,800.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other General Motors news, CAO Christopher Hatto sold 15,510 shares of General Motors stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the completion of the transaction, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rory Harvey sold 5,100 shares of General Motors stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares of the company’s stock, valued at $544,800.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,248 shares of company stock valued at $3,614,078. Insiders own 0.54% of the company’s stock.

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.