Independent Advisor Alliance Has $1.05 Million Stock Position in General Motors (NYSE:GM)

Independent Advisor Alliance lifted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 14.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,699 shares of the auto manufacturer’s stock after buying an additional 2,500 shares during the quarter. Independent Advisor Alliance’s holdings in General Motors were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. raised its stake in General Motors by 19.7% during the 4th quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after purchasing an additional 1,510 shares during the last quarter. SYM FINANCIAL Corp acquired a new position in General Motors during the 4th quarter valued at $474,000. Asset Management One Co. Ltd. raised its stake in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares during the last quarter. Avantra Family Wealth Inc. acquired a new position in General Motors during the 4th quarter valued at $1,044,000. Finally, Handelsbanken Fonder AB raised its stake in General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after purchasing an additional 19,924 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 2.6 %

GM opened at $48.34 on Friday. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The firm’s 50-day simple moving average is $49.23 and its 200-day simple moving average is $50.47. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $48.10 billion, a price-to-earnings ratio of 7.86, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 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%. Equities research analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has initiated a share repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Insiders Place Their Bets

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

GM has been the subject of several research analyst reports. UBS Group reiterated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and increased their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Cowen began coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and an average price target of $62.89.

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.