Wells Fargo & Company Lowers General Motors (NYSE:GM) Price Target to $35.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target decreased by Wells Fargo & Company from $38.00 to $35.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an underweight rating on the auto manufacturer’s stock.

A number of other research analysts have also weighed in on the stock. Wolfe Research initiated coverage on shares of General Motors in a research note on Thursday, September 5th. They issued a “peer perform” rating on the stock. DZ Bank downgraded General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. JPMorgan Chase & Co. raised their price target on shares of General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, 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 report on Monday, December 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, General Motors presently has a consensus rating of “Hold” and an average target price of $58.70.

General Motors Price Performance

GM stock opened at $49.99 on Monday. The firm has a market cap of $54.97 billion, a price-to-earnings ratio of 5.33, a PEG 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. The company’s fifty day simple moving average is $53.27 and its 200 day simple moving average is $48.83. General Motors has a 12-month low of $34.32 and a 12-month high of $61.24.

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

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio is presently 5.12%.

Insider Activity at General Motors

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GM. Allworth Financial LP boosted its position in shares of General Motors by 2.3% in the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer’s stock worth $412,000 after purchasing an additional 205 shares in the last quarter. Avestar Capital LLC grew its stake in shares of General Motors by 2.3% during the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer’s stock valued at $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC increased its holdings in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after buying an additional 213 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in General Motors by 3.5% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer’s stock worth $316,000 after purchasing an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. raised its stake in shares of General Motors by 0.6% in the second quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer’s stock worth $1,702,000 after buying an additional 230 shares during the period. Institutional investors own 92.67% of the company’s stock.

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.