IHT Wealth Management LLC Sells 6,320 Shares of General Motors (NYSE:GM)

IHT Wealth Management LLC trimmed its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 41.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,816 shares of the auto manufacturer's stock after selling 6,320 shares during the quarter. IHT Wealth Management LLC's holdings in General Motors were worth $470,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Norges Bank acquired a new position in shares of General Motors during the fourth quarter worth $592,321,000. Amundi raised its holdings in shares of General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after buying an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC increased its position in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after acquiring an additional 2,104,528 shares during the period. Raymond James Financial Inc. acquired a new position in shares of General Motors in the fourth quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI boosted its holdings in shares of General Motors by 54.4% in the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after acquiring an additional 1,180,936 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of research analyst reports. Cowen started coverage on General Motors in a research report on Thursday, March 6th. They issued a "buy" rating for the company. UBS Group reiterated a "neutral" rating and set a $51.00 target price (down from $64.00) on shares of General Motors in a research report on Thursday, April 10th. Barclays cut General Motors from an "overweight" rating to a "negative" rating in a report on Tuesday, April 15th. Mizuho cut their price objective on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Finally, The Goldman Sachs Group dropped their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.83.

General Motors Price Performance

NYSE:GM traded down $0.02 on Thursday, hitting $45.22. The company had a trading volume of 7,512,352 shares, compared to its average volume of 13,981,640. The firm has a 50 day moving average of $46.82 and a two-hundred day moving average of $50.27. The stock has a market capitalization of $43.69 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.67 and a beta of 1.27. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $2.62 EPS. On average, research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Friday, June 6th. General Motors's dividend payout ratio (DPR) is currently 7.80%.

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.