Alliancebernstein L.P. Boosts Stake in General Motors (NYSE:GM)

Alliancebernstein L.P. lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,495,539 shares of the auto manufacturer’s stock after acquiring an additional 22,233 shares during the quarter. Alliancebernstein L.P.’s holdings in General Motors were worth $79,667,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of GM. Golden State Wealth Management LLC bought a new position in General Motors during the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new position in shares of General Motors during the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc bought a new stake in General Motors during the fourth quarter worth approximately $27,000. Whittier Trust Co. lifted its position in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the period. Finally, Duncker Streett & Co. Inc. boosted its stake in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

GM stock opened at $45.90 on Friday. The firm has a 50 day simple moving average of $48.41 and a 200 day simple moving average of $50.57. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The stock has a market cap of $45.67 billion, a P/E ratio of 7.46, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results 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%. Research analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

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

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.05%. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 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 completion of the acquisition, 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 document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. JPMorgan Chase & Co. dropped their target price on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Mizuho raised their target price 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. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 11th. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and an average target price of $62.11.

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.