Abacus Planning Group Inc. Purchases 1,071 Shares of General Motors (NYSE:GM)

Abacus Planning Group Inc. boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 10.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 11,273 shares of the auto manufacturer’s stock after purchasing an additional 1,071 shares during the period. Abacus Planning Group Inc.’s holdings in General Motors were worth $601,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GM shares. Mizuho raised their price target on shares of General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Wedbush raised their price objective on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Finally, Sanford C. Bernstein lifted their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.71.

Insider Buying and Selling

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

General Motors Stock Performance

Shares of General Motors stock opened at $47.77 on Thursday. The business’s fifty day simple moving average is $50.90 and its 200 day simple moving average is $50.13. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12 month low of $38.13 and a 12 month high of $61.24. The firm has a market capitalization of $47.53 billion, a P/E ratio of 7.77, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40.

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 for the quarter, topping 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, analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. General Motors’s payout ratio is currently 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.