Avanza Fonder AB Takes Position in General Motors (NYSE:GM)

Avanza Fonder AB purchased a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 111,362 shares of the auto manufacturer's stock, valued at approximately $5,932,000.

Several other hedge funds have also modified their holdings of the business. Geode Capital Management LLC increased its stake in General Motors by 0.5% in the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer's stock valued at $1,055,395,000 after purchasing an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of General Motors by 6.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer's stock worth $774,766,000 after acquiring an additional 989,750 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer's stock valued at $498,310,000 after purchasing an additional 421,989 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in General Motors by 6.6% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer's stock worth $259,988,000 after acquiring an additional 358,507 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of General Motors by 123.1% in the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer's stock valued at $144,655,000 after purchasing an additional 1,779,897 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GM has been the subject of a number of recent analyst reports. HSBC lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. DZ Bank downgraded General Motors from a "buy" rating to a "hold" rating and set a $49.00 price objective for the company. in a research note on Friday, October 11th. Barclays increased their price objective on General Motors from $64.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price target on shares of General Motors from $38.00 to $35.00 and set an "underweight" rating on the stock in a research report on Monday, December 16th. Finally, UBS Group lifted their target price on General Motors from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $59.68.

General Motors Stock Down 1.8 %

Shares of GM traded down $0.94 during trading hours on Friday, hitting $50.90. The stock had a trading volume of 9,587,120 shares, compared to its average volume of 8,082,761. General Motors has a 1-year low of $34.32 and a 1-year high of $61.24. The firm has a market capitalization of $55.97 billion, a P/E ratio of 5.43, a price-to-earnings-growth ratio of 0.36 and a beta of 1.42. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $53.60 and a 200-day simple moving average of $49.62.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, topping the consensus estimate of $2.49 by $0.47. The firm had revenue of $48.76 billion for the quarter, compared to analysts' expectations of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.28 EPS. Sell-side analysts predict that General Motors will post 10.34 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Friday, December 6th were paid a $0.12 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.94%. General Motors's dividend payout ratio is 5.12%.

Insider Activity

In other news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction on Monday, November 18th. The shares were sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the sale, the executive vice president now directly owns 122,465 shares of the company's stock, valued at approximately $6,935,192.95. The trade was a 75.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company's stock, valued at $510,865.13. This represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,030,475 shares of company stock worth $56,509,286 in the last three months. Corporate insiders own 0.72% of the company's stock.

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.