General Motors (NYSE:GM) Shares Purchased by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina lifted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 645,174 shares of the auto manufacturer's stock after acquiring an additional 8,923 shares during the quarter. Treasurer of the State of North Carolina owned 0.06% of General Motors worth $34,368,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Trust Point Inc. grew its position in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after buying an additional 193 shares during the last quarter. Continuum Advisory LLC raised its stake in General Motors by 7.9% during the third quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock valued at $131,000 after buying an additional 213 shares during the last quarter. Holistic Planning LLC raised its position in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after purchasing an additional 214 shares during the last quarter. Nemes Rush Group LLC lifted its stake in shares of General Motors by 18.7% in the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after buying an additional 217 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of General Motors by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after purchasing an additional 226 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GM shares. The Goldman Sachs Group decreased their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday. Piper Sandler upped their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target for the company. in a research report on Monday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, General Motors currently has a consensus rating of "Hold" and an average price target of $58.39.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company's stock.

General Motors Stock Up 3.3 %

GM traded up $1.42 on Monday, hitting $45.05. The company had a trading volume of 22,015,481 shares, compared to its average volume of 13,583,292. The stock has a fifty day moving average price of $47.36 and a 200-day moving average price of $50.39. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The stock has a market capitalization of $44.82 billion, a price-to-earnings ratio of 7.33, a P/E/G ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio (DPR) is 7.80%.

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

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.