Sunpointe LLC Buys 957 Shares of General Motors (NYSE:GM)

Sunpointe LLC increased its position in General Motors (NYSE:GM) (TSE:GMM.U) by 20.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,591 shares of the auto manufacturer’s stock after purchasing an additional 957 shares during the period. Sunpointe LLC’s holdings in General Motors were worth $298,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of General Motors in the fourth quarter worth approximately $25,000. Crews Bank & Trust bought a new position in General Motors in the 4th quarter valued at approximately $26,000. Catalyst Capital Advisors LLC purchased a new stake in General Motors during the 3rd quarter valued at $27,000. Truvestments Capital LLC bought a new stake in shares of General Motors in the 3rd quarter worth $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of General Motors during the fourth quarter valued at $28,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. StockNews.com lowered General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Sanford C. Bernstein lifted their target price on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Mizuho increased their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their target price on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a research report on Wednesday, January 29th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.71.

General Motors Stock Down 0.8 %

NYSE GM opened at $47.77 on Thursday. General Motors has a 12 month low of $38.13 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 stock has a market cap of $47.53 billion, a PE ratio of 7.77, a P/E/G ratio of 0.68 and a beta of 1.40. The stock’s 50 day moving average is $50.90 and its 200 day moving average is $50.13.

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

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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%.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Rory Harvey sold 8,919 shares of General Motors stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

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.