Sagespring Wealth Partners LLC Invests $487,000 in General Motors (NYSE:GM)

Sagespring Wealth Partners LLC purchased a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,142 shares of the auto manufacturer's stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Golden State Wealth Management LLC bought a new position in General Motors in the 4th quarter worth about $25,000. Crews Bank & Trust purchased a new stake in General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc bought a new stake in General Motors during the fourth quarter valued at approximately $27,000. Duncker Streett & Co. Inc. grew its stake in General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. raised its position in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on GM. JPMorgan Chase & Co. reduced their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Mizuho dropped their target price on General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a research report on Thursday, April 10th. Barclays lowered General Motors from an "overweight" rating to a "negative" rating in a research note on Tuesday. Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Finally, TD Cowen started 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. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $56.72.

Insider Activity at General Motors

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

General Motors Stock Performance

NYSE GM traded up $0.33 on Friday, reaching $44.55. 11,706,110 shares of the stock were exchanged, compared to its average volume of 13,560,626. The company's 50-day simple moving average is $47.10 and its two-hundred day simple moving average is $50.29. 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 firm has a market capitalization of $44.32 billion, a PE ratio of 7.24, a PEG ratio of 0.67 and a beta of 1.27. General Motors has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data 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%. Analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.08%. General Motors's dividend payout ratio (DPR) is 7.80%.

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

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.