General Motors (NYSE:GM) Stake Cut by AlphaQuest LLC

AlphaQuest LLC reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 45.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,578 shares of the auto manufacturer’s stock after selling 16,938 shares during the period. AlphaQuest LLC’s holdings in General Motors were worth $1,096,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust acquired a new position in General Motors in the 4th quarter worth about $26,000. Truvestments Capital LLC acquired a new position in General Motors in the 3rd quarter worth about $27,000. Compass Planning Associates Inc acquired a new position in General Motors in the 4th quarter worth about $27,000. Finally, Duncker Streett & Co. Inc. increased its position in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Price Performance

Shares of GM stock opened at $48.10 on Tuesday. The stock has a 50 day moving average of $49.59 and a two-hundred day moving average of $50.51. 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 has a 12 month low of $38.94 and a 12 month high of $61.24. The company has a market capitalization of $47.85 billion, a P/E ratio of 7.82, a P/E/G ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS 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%. As a group, equities analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. General Motors’s dividend payout ratio is currently 7.80%.

General Motors declared that its board has approved a stock buyback program 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 programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the company. TD Cowen assumed coverage on General Motors in a research report on Friday. They issued a “buy” rating and a $105.00 target price on the stock. Cowen assumed coverage on General Motors in a report on Thursday. They set a “buy” rating on the stock. Mizuho increased their price objective on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. The Goldman Sachs Group set a $73.00 price objective on General Motors in a report on Saturday, March 1st. Finally, StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average target price of $62.89.

Insider Buying and Selling

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is 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.