Wealthspire Advisors LLC Buys New Stake in General Motors (NYSE:GM)

Wealthspire Advisors LLC bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 4,600 shares of the auto manufacturer’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of General Motors by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after acquiring an additional 106,878 shares during the period. Hotchkis & Wiley Capital Management LLC increased its position in shares of General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after purchasing an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of General Motors by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock worth $498,310,000 after purchasing an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in General Motors by 6.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after acquiring an additional 358,507 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in General Motors by 35.8% in the 4th quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after acquiring an additional 1,159,958 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

General Motors stock opened at $47.68 on Friday. The business has a 50 day moving average of $50.40 and a 200-day moving average of $50.31. 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 $47.44 billion, a P/E ratio of 7.75, 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 declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GM. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. HSBC lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their price target for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Finally, StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $59.71.

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.