Thoroughbred Financial Services LLC Buys 2,554 Shares of General Motors (NYSE:GM)

Thoroughbred Financial Services LLC boosted its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 9.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,580 shares of the auto manufacturer’s stock after acquiring an additional 2,554 shares during the period. Thoroughbred Financial Services LLC’s holdings in General Motors were worth $1,522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GM. Norges Bank bought a new stake in shares of General Motors in the 4th quarter valued at $592,321,000. Amundi boosted its position in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its holdings in 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 during the period. Raymond James Financial Inc. bought a new position in shares of General Motors in the 4th quarter worth about $108,366,000. Finally, National Bank of Canada FI lifted its stake in shares of General Motors by 158.8% in the 3rd quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock valued at $97,374,000 after purchasing an additional 1,332,450 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

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

General Motors Stock Down 3.7 %

General Motors stock opened at $44.22 on Friday. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. 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 50-day simple moving average is $48.22 and its 200 day simple moving average is $50.55. The stock has a market cap of $44.00 billion, a PE ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s payout ratio is 7.80%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GM. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Piper Sandler boosted their target price on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, March 27th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.11.

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.