J. Safra Sarasin Holding AG Sells 1,427 Shares of General Motors (NYSE:GM)

J. Safra Sarasin Holding AG lowered its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,700 shares of the auto manufacturer’s stock after selling 1,427 shares during the period. J. Safra Sarasin Holding AG’s holdings in General Motors were worth $517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in shares of General Motors in the fourth quarter worth approximately $592,321,000. Amundi grew its stake in General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after buying an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC grew its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock worth $394,060,000 after buying an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of General Motors in the 4th quarter worth $108,366,000. Finally, National Bank of Canada FI lifted its holdings in shares of 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 acquiring an additional 1,180,936 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Trading Up 1.5 %

NYSE:GM opened at $45.84 on Thursday. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. 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 company has a 50-day moving average price of $46.92 and a 200-day moving average price of $50.29. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its 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 return on equity of 15.29% and a net margin of 3.21%. Equities analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

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

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on GM. UBS Group reissued a “neutral” rating and issued a $51.00 target price (down previously from $64.00) on shares of General Motors in a research note on Thursday, April 10th. Citigroup assumed coverage on General Motors in a research report on Wednesday. They set a “buy” rating and a $62.00 price objective on the stock. The Goldman Sachs Group dropped their target price on General Motors from $73.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.83.

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.