Atria Wealth Solutions Inc. Sells 1,330 Shares of General Motors (NYSE:GM)

Atria Wealth Solutions Inc. cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 126,333 shares of the auto manufacturer’s stock after selling 1,330 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in General Motors were worth $4,250,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new position in shares of General Motors in the first quarter valued at approximately $25,000. BerganKDV Wealth Management LLC grew its holdings in General Motors by 379.2% during the 1st quarter. BerganKDV Wealth Management LLC now owns 714 shares of the auto manufacturer’s stock worth $26,000 after acquiring an additional 565 shares during the last quarter. Penserra Capital Management LLC increased its position in General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares during the period. Carmel Capital Partners LLC bought a new position in shares of General Motors during the first quarter valued at $29,000. Finally, Ahrens Investment Partners LLC acquired a new position in shares of General Motors during the first quarter worth $29,000. Institutional investors and hedge funds own 79.62% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, President Mark L. Reuss sold 9,300 shares of the firm’s stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $41.00, for a total transaction of $381,300.00. Following the transaction, the president now directly owns 282,973 shares in the company, valued at approximately $11,601,893. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

General Motors Price Performance

Shares of NYSE:GM opened at $33.66 on Thursday. The stock’s 50 day moving average is $36.04 and its 200-day moving average is $35.51. General Motors has a twelve month low of $31.10 and a twelve month high of $43.63. The company has a quick ratio of 0.96, a current ratio of 1.15 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $46.31 billion, a price-to-earnings ratio of 4.70, a PEG ratio of 0.44 and a beta of 1.39.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $44.75 billion for the quarter, compared to analyst estimates of $42.13 billion. General Motors had a net margin of 6.05% and a return on equity of 16.70%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. Sell-side analysts forecast that General Motors will post 7.6 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Friday, September 1st will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, August 31st. General Motors’s dividend payout ratio (DPR) is presently 5.03%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GM. The Goldman Sachs Group raised their target price on General Motors from $46.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Wells Fargo & Company upped their target price on General Motors from $30.00 to $32.00 in a report on Monday, July 10th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price target on shares of General Motors in a report on Wednesday, August 9th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group lifted their target price on shares of General Motors from $37.00 to $39.00 in a research note on Friday, July 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.67.

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.