Tredje AP fonden Purchases 656,700 Shares of General Motors (NYSE:GM)

Tredje AP fonden grew its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 168.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,046,700 shares of the auto manufacturer's stock after purchasing an additional 656,700 shares during the quarter. Tredje AP fonden owned approximately 0.11% of General Motors worth $55,758,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of General Motors during the fourth quarter valued at $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the fourth quarter valued at $26,000. Truvestments Capital LLC purchased a new stake in shares of General Motors during the third quarter valued at $27,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the fourth quarter valued at $27,000. Finally, Duncker Streett & Co. Inc. boosted its stake in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Performance

GM opened at $47.92 on Thursday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The company has a market cap of $47.68 billion, a P/E ratio of 7.79, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The firm's 50-day moving average price is $49.38 and its 200-day moving average price is $50.49.

Remove Ads

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly 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 net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a yield of 1.00%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business's stock in a transaction that occurred on Thursday, January 30th. The shares were bought 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 represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on GM shares. Hsbc Global Res lowered shares of General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective for the company. StockNews.com lowered shares of General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Mizuho upped their price objective 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, UBS Group reaffirmed a "buy" rating on shares of General Motors in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $62.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.