Kazazian Asset Management LLC Invests $1.86 Million in General Motors (NYSE:GM)

Kazazian Asset Management LLC purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 35,000 shares of the auto manufacturer’s stock, valued at approximately $1,864,000. General Motors accounts for 1.4% of Kazazian Asset Management LLC’s holdings, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of GM. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the fourth quarter worth $25,000. Crews Bank & Trust purchased a new position in General Motors in the fourth quarter valued at $26,000. Truvestments Capital LLC purchased a new position in General Motors in the third quarter valued at $27,000. Compass Planning Associates Inc purchased a new position in General Motors in the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. boosted its holdings in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GM shares. UBS Group reiterated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. TD Cowen started coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price for the company. Mizuho lifted their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and lifted their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Stock Down 0.8 %

GM opened at $48.62 on Wednesday. The stock has a market capitalization of $48.38 billion, a P/E ratio of 7.91, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. General Motors has a one year low of $38.96 and a one year high of $61.24. The business’s 50-day simple moving average is $49.07 and its 200-day simple moving average is $50.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last issued 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 return on equity of 15.29% and a net margin of 3.21%. Analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given 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 presently 7.80%.

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.