Waterfront Wealth Inc. Has $1.09 Million Position in General Motors (NYSE:GM)

Waterfront Wealth Inc. reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,455 shares of the auto manufacturer’s stock after selling 12,921 shares during the period. Waterfront Wealth Inc.’s holdings in General Motors were worth $1,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the fourth quarter valued at about $26,000. Catalyst Capital Advisors LLC bought a new stake in shares of General Motors in the third quarter valued at about $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors in the third quarter valued at about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of General Motors in the fourth quarter valued at about $28,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GM shares. Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and boosted their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Sanford C. Bernstein boosted their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, UBS Group upped their price objective on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $59.71.

Insider Activity

In other General Motors news, EVP Rory Harvey sold 8,919 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

General Motors Stock Performance

General Motors stock opened at $47.84 on Friday. The business has a 50 day moving average of $50.81 and a 200-day moving average of $50.11. General Motors has a 1 year low of $38.94 and a 1 year high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $47.60 billion, a P/E ratio of 7.78, a P/E/G ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts predict that General Motors will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

About General Motors

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.