Atria Wealth Solutions Inc. Has $2.47 Million Stock Position in General Motors Company (NYSE:GM)

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in General Motors by 21.4% in the first quarter, owning 52,589 shares valued at approximately $2.47 million as of its latest SEC filing.
• General Motors reported $2.53 EPS for the latest quarter, exceeding expectations, with total revenue of $47.12 billion, but a 1.8% decrease compared to the previous year.
• The company has declared a quarterly dividend of $0.15 per share, with a payout ratio of 9.52%, set to be paid on September 18th to shareholders on record as of September 5th.

Atria Wealth Solutions Inc. lowered its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 21.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 52,589 shares of the auto manufacturer's stock after selling 14,349 shares during the period. Atria Wealth Solutions Inc.'s holdings in General Motors were worth $2,473,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the fourth quarter valued at about $27,000. Transce3nd LLC acquired a new position in General Motors in the fourth quarter worth about $34,000. Costello Asset Management INC acquired a new position in General Motors in the first quarter worth about $32,000. Ossiam acquired a new position in General Motors in the fourth quarter worth about $44,000. Finally, North Capital Inc. acquired a new position in General Motors in the first quarter worth about $40,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Activity at General Motors

In other news, EVP Rory Harvey sold 23,977 shares of General Motors stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, the executive vice president owned 8,513 shares of the company's stock, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GM shares. Wells Fargo & Company increased their price target on shares of General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 23rd. Barclays raised their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Citigroup raised their price objective on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a report on Friday, July 11th. Finally, Wedbush reaffirmed an "outperform" rating and set a $55.00 price objective on shares of General Motors in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $57.53.

General Motors Stock Up 1.1%

Shares of NYSE:GM traded up $0.57 during midday trading on Friday, reaching $53.52. 4,125,133 shares of the company were exchanged, compared to its average volume of 10,127,242. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The stock has a fifty day simple moving average of $50.95 and a two-hundred day simple moving average of $48.78. The firm has a market cap of $50.96 billion, a PE ratio of 8.50, a P/E/G ratio of 1.13 and a beta of 1.36.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period in the previous year, the business earned $3.06 EPS. The company's revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is 9.52%.

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.