Avestar Capital LLC Buys 1,159 Shares of General Motors (NYSE:GM)

Avestar Capital LLC lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 12.1% during the 4th quarter, Holdings Channel reports. The firm owned 10,751 shares of the auto manufacturer’s stock after buying an additional 1,159 shares during the quarter. Avestar Capital LLC’s holdings in General Motors were worth $573,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in General Motors in the fourth quarter valued at about $25,000. Crews Bank & Trust bought a new position in shares of General Motors in the fourth quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new position in shares of General Motors in the 3rd quarter worth approximately $27,000. Truvestments Capital LLC bought a new stake in General Motors during the 3rd quarter worth approximately $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in General Motors during the 4th quarter valued at $28,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 8,919 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on GM shares. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Sanford C. Bernstein upped their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $61.28.

General Motors Stock Performance

GM stock opened at $47.90 on Friday. General Motors has a 1-year low of $38.05 and a 1-year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market cap of $47.66 billion, a PE ratio of 7.79, a P/E/G ratio of 0.68 and a beta of 1.40. The business’s 50-day moving average price is $51.37 and its two-hundred day moving average price is $49.96.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, research analysts forecast that General Motors will post 11.28 earnings per share for the current year.

General Motors Dividend Announcement

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 paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

About General Motors

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.