Thoroughbred Financial Services LLC Has $1.52 Million Position in General Motors (NYSE:GM)

Thoroughbred Financial Services LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,580 shares of the auto manufacturer’s stock after purchasing an additional 2,554 shares during the period. Thoroughbred Financial Services LLC’s holdings in General Motors were worth $1,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GM. Trust Point Inc. raised its stake in General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after buying an additional 193 shares during the period. Continuum Advisory LLC raised its stake in General Motors by 7.9% in the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer’s stock valued at $131,000 after acquiring an additional 213 shares during the period. Holistic Planning LLC lifted its holdings in General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after purchasing an additional 214 shares during the last quarter. Nemes Rush Group LLC boosted its position in General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock worth $73,000 after purchasing an additional 217 shares during the period. Finally, Norden Group LLC increased its holdings in shares of General Motors by 3.0% in the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock valued at $421,000 after purchasing an additional 229 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

NYSE:GM opened at $44.22 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock’s 50-day simple moving average is $48.22 and its 200 day simple moving average is $50.55.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results 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 net margin of 3.21% and a return on equity of 15.29%. On average, analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling

In other General Motors 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 acquired at an average cost of $50.66 per share, for a total transaction 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 represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GM. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective for the company. The Goldman Sachs Group set a $73.00 target price on General Motors in a research report on Saturday, March 1st. Mizuho lifted their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.11.

General Motors 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.