Advisory Services Network LLC Increases Position in General Motors (NYSE:GM)

Advisory Services Network LLC grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,258 shares of the auto manufacturer’s stock after purchasing an additional 2,796 shares during the period. Advisory Services Network LLC’s holdings in General Motors were worth $2,411,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of GM. Norges Bank purchased a new position in General Motors during the 4th quarter valued at about $592,321,000. Amundi boosted its stake in shares of General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock valued at $250,627,000 after purchasing an additional 2,113,973 shares during the period. ACR Alpine Capital Research LLC grew its holdings in shares of General Motors by 39.8% in the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in General Motors during the 4th quarter worth approximately $108,366,000. Finally, National Bank of Canada FI lifted its holdings in General Motors by 54.4% during the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer’s stock worth $178,593,000 after buying an additional 1,180,936 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares of the company’s stock, 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 SEC, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on GM. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. TD Cowen assumed coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. UBS Group reissued a “neutral” rating and set a $51.00 price objective (down from $64.00) on shares of General Motors in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $59.33.

General Motors Trading Down 4.0 %

Shares of General Motors stock opened at $43.91 on Friday. The company’s fifty day moving average is $47.46 and its two-hundred day moving average is $50.37. General Motors has a 1 year low of $38.96 and a 1 year 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 company has a market capitalization of $43.69 billion, a P/E ratio of 7.14, a PEG ratio of 0.67 and a beta of 1.27.

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 (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has authorized a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

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

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.