Pictet Asset Management Holding SA Cuts Position in General Motors (NYSE:GM)

Pictet Asset Management Holding SA lowered its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 491,011 shares of the auto manufacturer's stock after selling 15,121 shares during the quarter. Pictet Asset Management Holding SA's holdings in General Motors were worth $26,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Trust Point Inc. grew its stake in shares of General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after acquiring an additional 193 shares during the period. Continuum Advisory LLC boosted its position in shares of General Motors by 7.9% in the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock worth $131,000 after purchasing an additional 213 shares during the period. Holistic Planning LLC increased its stake in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after purchasing an additional 214 shares in the last quarter. Norden Group LLC raised its position in shares of General Motors by 3.0% during the 4th quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock valued at $421,000 after purchasing an additional 229 shares during the period. Finally, Hilltop National Bank lifted its stake in shares of General Motors by 6.9% during the 4th quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer's stock valued at $206,000 after buying an additional 249 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Trading Down 3.7 %

GM traded down $1.68 during trading hours on Friday, reaching $44.22. 26,713,341 shares of the company's stock traded hands, compared to its average volume of 13,413,857. The firm has a 50-day moving average price of $48.22 and a 200 day moving average price of $50.57. The firm has a market capitalization of $44.00 billion, a PE ratio of 7.19, a PEG ratio of 0.67 and a beta of 1.27. 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 52-week low of $38.96 and a 52-week high of $61.24.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, sell-side analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has approved a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio (DPR) is presently 7.80%.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

GM has been the topic of a number of recent analyst reports. Cowen assumed coverage on General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. Hsbc Global Res cut General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 11th. HSBC lowered shares of 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. The Goldman Sachs Group set a $73.00 target price on shares of General Motors in a report on Saturday, March 1st. Finally, Morgan Stanley raised shares of General Motors from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $62.11.

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.