Gulf International Bank UK Ltd Cuts Stake in General Motors (NYSE:GM)

Gulf International Bank UK Ltd lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,392 shares of the auto manufacturer’s stock after selling 1,058 shares during the period. Gulf International Bank UK Ltd’s holdings in General Motors were worth $4,708,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new stake in shares of General Motors during the fourth quarter valued at about $25,000. Crews Bank & Trust purchased a new position in General Motors in the fourth quarter valued at $26,000. Compass Planning Associates Inc acquired a new position in General Motors during the 4th quarter worth $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in General Motors during the 4th quarter worth $28,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in General Motors during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. purchased 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, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on GM shares. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company reissued an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.71.

General Motors Price Performance

Shares of NYSE GM opened at $47.68 on Friday. The stock has a market cap of $47.44 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.67 and a beta of 1.40. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24. The stock has a 50 day moving average of $50.40 and a two-hundred day moving average of $50.31. 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 (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS 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%. On average, research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its Board of Directors has approved a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits 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 shares are undervalued.

General Motors Dividend Announcement

The firm also recently announced 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 1.01%. General Motors’s dividend payout ratio (DPR) is 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.