General Motors (NYSE:GM) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 0.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 68,805 shares of the auto manufacturer’s stock after selling 471 shares during the period. Avantax Advisory Services Inc.’s holdings in General Motors were worth $3,665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC raised its position 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 in the last quarter. Hotchkis & Wiley Capital Management LLC raised 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 acquiring an additional 989,750 shares in the last quarter. ACR Alpine Capital Research LLC raised its position in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after acquiring an additional 2,104,528 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of General Motors by 6.6% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock worth $259,988,000 after acquiring an additional 358,507 shares in the last quarter. Finally, Amundi raised its position in shares of General Motors by 75.5% during the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after acquiring an additional 2,113,973 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Trading Up 2.6 %

Shares of GM stock opened at $48.34 on Friday. The business’s fifty day moving average price is $49.23 and its 200 day moving average price is $50.47. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market capitalization of $48.10 billion, a PE ratio of 7.86, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98.

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 return on equity of 15.29% and a net margin of 3.21%. As a group, sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock buyback 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 repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Buying and Selling at General Motors

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

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.89.

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.