Zurcher Kantonalbank Zurich Cantonalbank Purchases 24,398 Shares of General Motors (NYSE:GM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 10.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 260,565 shares of the auto manufacturer's stock after purchasing an additional 24,398 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in General Motors were worth $13,880,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC bought a new position in General Motors during the third quarter valued at about $235,000. Sigma Planning Corp boosted its stake in General Motors by 23.2% in the third quarter. Sigma Planning Corp now owns 19,743 shares of the auto manufacturer's stock valued at $885,000 after acquiring an additional 3,717 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of General Motors during the 3rd quarter worth approximately $44,000. Venturi Wealth Management LLC raised its holdings in shares of General Motors by 28.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,626 shares of the auto manufacturer's stock worth $73,000 after purchasing an additional 361 shares during the period. Finally, Aptus Capital Advisors LLC lifted its stake in General Motors by 5.3% in the third quarter. Aptus Capital Advisors LLC now owns 12,069 shares of the auto manufacturer's stock valued at $541,000 after purchasing an additional 604 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

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Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. The Goldman Sachs Group set a $73.00 target price on General Motors in a research report on Saturday, March 1st. Deutsche Bank Aktiengesellschaft upgraded General Motors from a "hold" rating to a "buy" rating and boosted their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com downgraded shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Mizuho lifted their target price on shares of General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Finally, TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, General Motors has a consensus rating of "Hold" and an average target price of $62.89.

General Motors Price Performance

Shares of NYSE:GM traded down $0.81 during trading on Thursday, reaching $47.09. The company had a trading volume of 14,185,419 shares, compared to its average volume of 12,284,437. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $46.85 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a fifty day moving average of $49.30 and a two-hundred day moving average of $50.47.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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%. Equities research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, March 7th. General Motors's dividend payout ratio (DPR) is presently 7.80%.

General Motors Company 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.