B. Riley Wealth Advisors Inc. Has $997,000 Stock Position in General Motors (NYSE:GM)

B. Riley Wealth Advisors Inc. reduced its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,220 shares of the auto manufacturer’s stock after selling 3,065 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in General Motors were worth $997,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GM. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the second quarter worth about $25,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC acquired a new position in shares of General Motors in the 3rd quarter valued at $27,000. Wellington Shields Capital Management LLC acquired a new stake in shares of General Motors during the second quarter worth $28,000. Finally, EdgeRock Capital LLC acquired a new position in General Motors in the second quarter valued at about $33,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on General Motors from $53.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $53.00 price target on shares of General Motors in a report on Tuesday, September 10th. Finally, Barclays boosted their price objective on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $58.70.

Insider Buying and Selling at General Motors

In other General Motors news, EVP Rory Harvey sold 9,307 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $54.01, for a total transaction of $502,671.07. Following the completion of the sale, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. This trade represents a 52.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 506,824 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 42.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,030,475 shares of company stock valued at $56,509,286. 0.72% of the stock is currently owned by corporate insiders.

General Motors Price Performance

Shares of General Motors stock opened at $51.14 on Wednesday. The company has a 50-day simple moving average of $53.23 and a two-hundred day simple moving average of $48.83. General Motors has a twelve month low of $34.32 and a twelve month high of $61.24. The stock has a market capitalization of $56.23 billion, a price-to-earnings ratio of 5.45, a price-to-earnings-growth ratio of 0.39 and a beta of 1.42. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 1.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.47. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm’s quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.28 earnings per share. Analysts forecast that General Motors will post 10.35 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, December 6th. General Motors’s payout ratio is presently 5.12%.

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.