SVB Wealth LLC Acquires Shares of 50,013 General Motors (NYSE:GM)

SVB Wealth LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 50,013 shares of the auto manufacturer’s stock, valued at approximately $2,664,000.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new position in shares of General Motors in the fourth quarter valued at approximately $26,000. Catalyst Capital Advisors LLC acquired a new stake in General Motors during the 3rd quarter worth approximately $27,000. Truvestments Capital LLC bought a new stake in General Motors in the 3rd quarter valued at $27,000. Finally, Compass Planning Associates Inc acquired a new position in General Motors in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Performance

General Motors stock opened at $49.22 on Friday. 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 stock has a market cap of $48.97 billion, a PE ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The business’s 50-day moving average price is $50.34 and its two-hundred day moving average price is $50.40.

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, beating 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, analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has authorized a share buyback 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 purchase up to 12.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Activity at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research reports. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Hsbc Global Res lowered shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group reissued a “buy” rating on shares of General Motors in a report on Monday, February 3rd. 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 report on Tuesday, December 10th. Finally, Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $59.71.

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.