General Motors (NYSE:GM) Shares Bought by Corient Private Wealth LLC

Corient Private Wealth LLC raised its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 353,506 shares of the auto manufacturer's stock after purchasing an additional 22,475 shares during the quarter. Corient Private Wealth LLC's holdings in General Motors were worth $18,829,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of General Motors by 19.7% in the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer's stock valued at $488,000 after buying an additional 1,510 shares during the period. SYM FINANCIAL Corp acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $474,000. Asset Management One Co. Ltd. lifted its holdings in shares of General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after buying an additional 39,474 shares during the period. Avantra Family Wealth Inc. acquired a new position in General Motors during the fourth quarter worth $1,044,000. Finally, Handelsbanken Fonder AB raised its holdings in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock worth $10,763,000 after purchasing an additional 19,924 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GM has been the subject of several research reports. UBS Group reaffirmed a "buy" rating on shares of General Motors in a report on Monday, February 3rd. Mizuho lifted their price objective on General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. HSBC cut General Motors from a "buy" rating to a "hold" rating and set a $58.00 price objective for the company. in a report on Wednesday, December 11th. Hsbc Global Res cut General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. Finally, Cowen began coverage on General Motors in a report on Thursday, March 6th. They set a "buy" rating for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.06.

General Motors Stock Performance

Shares of NYSE:GM traded up $0.33 during trading on Friday, hitting $49.77. 37,623,460 shares of the company traded hands, compared to its average volume of 12,866,566. The stock has a market capitalization of $49.53 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42. The business's fifty day moving average is $49.02 and its 200-day moving average is $50.46. General Motors has a one year low of $38.96 and a one year high of $61.24. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

General Motors Announces Dividend

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

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.