General Motors (NYSE:GM) Shares Bought by Assetmark Inc.

Assetmark Inc. lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,819 shares of the auto manufacturer’s stock after acquiring an additional 11,811 shares during the period. Assetmark Inc.’s holdings in General Motors were worth $3,119,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of General Motors in the fourth quarter worth approximately $244,000. Sachetta LLC acquired a new stake in shares of General Motors during the fourth quarter worth approximately $33,000. Clearbridge Investments LLC boosted its holdings in shares of General Motors by 4.0% during the fourth quarter. Clearbridge Investments LLC now owns 4,796,672 shares of the auto manufacturer’s stock worth $172,296,000 after purchasing an additional 185,648 shares during the period. Gladstone Institutional Advisory LLC acquired a new stake in shares of General Motors during the fourth quarter worth approximately $218,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of General Motors by 69.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 155,120 shares of the auto manufacturer’s stock worth $5,572,000 after purchasing an additional 63,769 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on GM. Tigress Financial raised their price target on shares of General Motors from $86.00 to $88.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 15th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Friday. Royal Bank of Canada lifted their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. UBS Group lifted their target price on shares of General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Citigroup lifted their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of “Moderate Buy” and a consensus target price of $54.65.

General Motors Stock Performance

GM stock traded up $0.38 on Friday, reaching $44.11. 7,373,009 shares of the company were exchanged, compared to its average volume of 11,011,397. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The stock’s fifty day moving average price is $44.30 and its 200 day moving average price is $38.47. The firm has a market capitalization of $50.33 billion, a PE ratio of 5.39, a PEG ratio of 0.51 and a beta of 1.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 EPS. On average, research analysts anticipate that General Motors will post 9.4 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.09%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

Insider Activity

In other news, CAO Christopher Hatto sold 15,510 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Gerald Johnson sold 15,190 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the transaction, the executive vice president now owns 98,628 shares in the company, valued at approximately $3,948,078.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at approximately $860,710.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,422 shares of company stock worth $3,085,372. Corporate insiders own 0.72% of the company’s stock.

General Motors Company 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.