Cibc World Markets Corp Acquires 21,092 Shares of General Motors (NYSE:GM)

Cibc World Markets Corp raised its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 13.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 174,566 shares of the auto manufacturer's stock after buying an additional 21,092 shares during the quarter. Cibc World Markets Corp's holdings in General Motors were worth $9,299,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the 4th quarter worth about $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors during the 3rd quarter worth about $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the 4th quarter valued at about $27,000. Finally, Duncker Streett & Co. Inc. grew its stake in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GM shares. Hsbc Global Res lowered shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a report on Monday, February 3rd. UBS Group reiterated a "buy" rating on shares of General Motors in a report on Monday, February 3rd. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $63.06.

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Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company's stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

General Motors Stock Performance

Shares of GM stock traded up $0.33 during mid-day trading on Friday, reaching $49.77. The stock had a trading volume of 37,623,460 shares, compared to its average volume of 12,866,566. The firm has a market cap of $49.53 billion, a PE ratio of 8.09, 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 one year low of $38.96 and a one year high of $61.24. The firm's 50 day simple moving average is $49.02 and its 200 day simple moving average is $50.46.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS 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%. On average, analysts forecast that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.96%. General Motors's payout ratio is currently 7.80%.

General Motors declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its stock is 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.