4,600 Shares in General Motors (NYSE:GM) Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC bought a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, Holdings Channel reports. The fund bought 4,600 shares of the auto manufacturer’s stock, valued at approximately $245,000.

Other large investors have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter valued at about $25,000. Crews Bank & Trust bought a new stake in General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc purchased a new position in shares of General Motors during the fourth quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of General Motors during the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of General Motors during the fourth quarter valued at approximately $31,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GM shares. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and upped their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $46.00 to $54.00 in a report on Tuesday, December 10th. Finally, UBS Group reaffirmed a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.71.

Insiders Place Their Bets

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Performance

GM opened at $47.68 on Friday. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market capitalization of $47.44 billion, a PE ratio of 7.75, a P/E/G ratio of 0.67 and a beta of 1.40. The firm has a 50 day moving average of $50.40 and a two-hundred day moving average of $50.31.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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 year.

General Motors Announces Dividend

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

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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.