General Motors (NYSE:GM) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,495,539 shares of the auto manufacturer's stock after acquiring an additional 22,233 shares during the quarter. Alliancebernstein L.P. owned 0.15% of General Motors worth $79,667,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer's stock worth $1,055,395,000 after purchasing an additional 106,878 shares during the period. Norges Bank purchased a new stake in General Motors in the 4th quarter worth approximately $592,321,000. ACR Alpine Capital Research LLC grew its position in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after buying an additional 2,104,528 shares during the last quarter. Amundi grew its position in shares of General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after buying an additional 2,113,973 shares during the last quarter. Finally, Brandywine Global Investment Management LLC increased its stake in shares of General Motors by 0.8% during the fourth quarter. Brandywine Global Investment Management LLC now owns 4,407,110 shares of the auto manufacturer's stock valued at $234,767,000 after buying an additional 32,875 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

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Insider Buying and Selling at General Motors

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

General Motors Price Performance

NYSE:GM traded up $0.62 during trading hours on Tuesday, hitting $44.15. 4,729,922 shares of the stock traded hands, compared to its average volume of 14,008,779. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 7.18, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The stock has a 50 day moving average price of $47.99 and a 200 day moving average price of $50.55. 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 released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. Sell-side analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Announces Dividend

The firm also recently declared 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 yield of 1.09%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio is presently 7.80%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on GM shares. Hsbc Global Res cut shares of General Motors from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, December 11th. TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Sanford C. Bernstein lowered General Motors from a "market perform" rating to an "underperform" rating and lowered their price objective for the company from $50.00 to $35.00 in a research report on Monday. Finally, HSBC downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $61.00.

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.