Hoey Investments Inc. Sells 2,650 Shares of General Motors (NYSE:GM)

Hoey Investments Inc. decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 23.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,511 shares of the auto manufacturer’s stock after selling 2,650 shares during the quarter. Hoey Investments Inc.’s holdings in General Motors were worth $453,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in GM. Alliancebernstein L.P. grew its holdings in General Motors by 1.5% during the 4th quarter. Alliancebernstein L.P. now owns 1,495,539 shares of the auto manufacturer’s stock worth $79,667,000 after acquiring an additional 22,233 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of General Motors in the 4th quarter worth approximately $4,609,000. Meeder Asset Management Inc. boosted its stake in shares of General Motors by 633.8% during the fourth quarter. Meeder Asset Management Inc. now owns 94,810 shares of the auto manufacturer’s stock valued at $5,051,000 after purchasing an additional 81,890 shares in the last quarter. AIA Group Ltd increased its holdings in General Motors by 75.3% during the fourth quarter. AIA Group Ltd now owns 58,874 shares of the auto manufacturer’s stock valued at $3,136,000 after buying an additional 25,294 shares during the period. Finally, Wellington Management Group LLP raised its stake in General Motors by 0.6% in the fourth quarter. Wellington Management Group LLP now owns 1,195,961 shares of the auto manufacturer’s stock worth $63,709,000 after buying an additional 7,081 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of NYSE GM opened at $46.65 on Monday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. 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 cap of $46.42 billion, a P/E ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. The business’s 50 day moving average price is $48.89 and its 200 day moving average price is $50.61.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data 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, sell-side analysts expect that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and raised their target price for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Three 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $62.11.

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.