Lake Street Advisors Group LLC Increases Stake in General Motors (NYSE:GM)

Lake Street Advisors Group LLC lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 9.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,966 shares of the auto manufacturer’s stock after purchasing an additional 601 shares during the period. Lake Street Advisors Group LLC’s holdings in General Motors were worth $371,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new stake in General Motors in the 4th quarter worth $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the fourth quarter worth about $26,000. Compass Planning Associates Inc bought a new stake in shares of General Motors in the fourth quarter worth about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in General Motors during the 4th quarter valued at about $28,000. Finally, Sugar Maple Asset Management LLC bought a new position in General Motors during the 4th quarter valued at approximately $31,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GM shares. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Mizuho increased their price target 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, General Motors presently has an average rating of “Hold” and an average price target of $59.71.

General Motors Trading Down 1.6 %

General Motors stock opened at $47.68 on Friday. General Motors has a 12 month low of $38.94 and a 12 month high of $61.24. The company has a market capitalization of $47.44 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. The business’s fifty day simple moving average is $50.40 and its two-hundred day simple moving average is $50.31. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping 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, equities analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

General Motors announced that its board has approved a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the transaction, 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 this link. 0.72% of the stock is owned by company insiders.

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.