Mystic Asset Management Inc. Takes Position in General Motors (NYSE:GM)

Mystic Asset Management Inc. purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,307 shares of the auto manufacturer’s stock, valued at approximately $443,000.

Several other large investors have also modified their holdings of the business. Blue Trust Inc. lifted its position in General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after acquiring an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp purchased a new stake in General Motors during the fourth quarter valued at approximately $474,000. Asset Management One Co. Ltd. lifted its position in General Motors by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after acquiring an additional 39,474 shares during the last quarter. Avantra Family Wealth Inc. purchased a new stake in General Motors during the fourth quarter valued at approximately $1,044,000. Finally, Handelsbanken Fonder AB lifted its position in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after acquiring an additional 19,924 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 0.8 %

GM stock opened at $48.62 on Wednesday. The firm has a market cap of $48.38 billion, a PE ratio of 7.91, 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 quick ratio of 0.98 and a current ratio of 1.13. The firm’s fifty day moving average is $49.07 and its 200 day moving average is $50.47. General Motors has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 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, research analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company 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 dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 0.99%. General Motors’s dividend payout ratio is presently 7.80%.

General Motors declared that its board has initiated a stock buyback 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 purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on GM shares. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research report on Wednesday, December 11th. Cowen started coverage on shares of General Motors in a research note on Thursday, March 6th. They set a “buy” rating on the stock. Mizuho upped 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. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.89.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by company insiders.

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.