HighPoint Advisor Group LLC Decreases Position in General Motors (NYSE:GM)

HighPoint Advisor Group LLC reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 29.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,129 shares of the auto manufacturer’s stock after selling 7,590 shares during the period. HighPoint Advisor Group LLC’s holdings in General Motors were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GM. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new stake in General Motors in the 4th quarter valued at about $26,000. Compass Planning Associates Inc purchased a new position in General Motors in the 4th quarter worth approximately $27,000. Whittier Trust Co. boosted its holdings in shares of General Motors by 551.9% during the 4th 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 last quarter. Finally, Duncker Streett & Co. Inc. grew its position in shares of General Motors by 9,960.0% in the fourth 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 Trading Up 0.3 %

Shares of NYSE GM opened at $47.18 on Wednesday. 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 stock has a market capitalization of $46.94 billion, a PE ratio of 7.67, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The stock has a fifty day simple moving average of $48.68 and a 200-day simple moving average of $50.62.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. On average, equities analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

General Motors announced that its board has initiated a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on GM shares. Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. JPMorgan Chase & Co. reduced their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research report on Saturday, March 1st. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Hsbc Global Res downgraded shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average price target of $62.11.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

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.