General Motors (NYSE:GM) Shares Purchased by MV Capital Management Inc.

MV Capital Management Inc. raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 61.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,513 shares of the auto manufacturer’s stock after buying an additional 961 shares during the quarter. MV Capital Management Inc.’s holdings in General Motors were worth $134,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Intrust Bank NA raised its holdings in General Motors by 5.9% during the fourth quarter. Intrust Bank NA now owns 18,450 shares of the auto manufacturer’s stock worth $983,000 after purchasing an additional 1,034 shares in the last quarter. Allstate Corp acquired a new position in General Motors during the 4th quarter worth approximately $1,784,000. Brown Brothers Harriman & Co. raised its stake in shares of General Motors by 29.3% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,978 shares of the auto manufacturer’s stock worth $212,000 after buying an additional 902 shares in the last quarter. DnB Asset Management AS lifted its holdings in shares of General Motors by 47.7% in the 4th quarter. DnB Asset Management AS now owns 278,639 shares of the auto manufacturer’s stock valued at $14,843,000 after buying an additional 89,936 shares during the period. Finally, denkapparat Operations GmbH purchased a new stake in shares of General Motors in the fourth quarter valued at approximately $492,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GM. JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday. TD Cowen assumed coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Mizuho increased their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Piper Sandler boosted their price target on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.11.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Down 1.2 %

Shares of General Motors stock opened at $46.65 on Friday. The firm has a market cap of $46.42 billion, a PE ratio of 7.59, a P/E/G ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The business’s fifty day moving average is $48.89 and its two-hundred day moving average is $50.53.

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, topping 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%. Analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors declared that its board has authorized a share buyback program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.