Cornerstone Wealth Management LLC Buys 2,006 Shares of General Motors (NYSE:GM)

Cornerstone Wealth Management LLC lifted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,007 shares of the auto manufacturer’s stock after purchasing an additional 2,006 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in General Motors were worth $533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in General Motors in the second quarter valued at approximately $25,000. Catalyst Capital Advisors LLC acquired a new stake in shares of General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC bought a new stake in General Motors during the 3rd quarter worth $27,000. Sugar Maple Asset Management LLC acquired a new position in General Motors in the 4th quarter worth about $31,000. Finally, Eastern Bank bought a new position in General Motors in the third quarter valued at about $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 0.5 %

Shares of GM stock opened at $53.95 on Friday. General Motors has a 52-week low of $34.71 and a 52-week high of $61.24. The company has a 50-day simple moving average of $53.17 and a two-hundred day simple moving average of $49.85. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21. The company has a market capitalization of $59.32 billion, a price-to-earnings ratio of 5.75, a PEG ratio of 0.38 and a beta of 1.42.

Insider Activity

In other General Motors news, EVP Craig B. Glidden sold 383,142 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $56.63, for a total value of $21,697,331.46. Following the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at $6,935,192.95. The trade was a 75.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction that occurred on Monday, November 25th. The stock was 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 directly owns 8,513 shares in the company, valued at $510,865.13. This trade represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 514,344 shares of company stock valued at $28,977,691 over the last three months. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GM. Mizuho upped their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Wells Fargo & Company decreased their price target on shares of General Motors from $38.00 to $35.00 and set an “underweight” rating for the company in a research report on Monday, December 16th. Barclays boosted their price objective 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. Royal Bank of Canada raised their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $61.17.

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.