Kiker Wealth Management LLC Takes $1.70 Million Position in General Motors (NYSE:GM)

Kiker Wealth Management LLC purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 31,993 shares of the auto manufacturer’s stock, valued at approximately $1,704,000. General Motors accounts for 1.4% of Kiker Wealth Management LLC’s portfolio, making the stock its 19th biggest holding.

A number of other large investors have also made changes to their positions in the company. Amundi increased its position in General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its stake in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after buying an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. bought a new position in General Motors during the fourth quarter valued at approximately $108,366,000. Caisse DE Depot ET Placement DU Quebec lifted its stake in General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after acquiring an additional 1,906,964 shares during the last quarter. Finally, National Bank of Canada FI grew its position in General Motors by 158.8% in the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after acquiring an additional 1,332,450 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

General Motors Stock Down 0.7 %

GM stock opened at $49.46 on Friday. General Motors has a twelve month low of $38.96 and a twelve month 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 $49.21 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The business’s 50-day simple moving average is $49.02 and its 200 day simple moving average is $50.46.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, research analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.97%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GM shares. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Cowen started coverage on General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. Cowen assumed coverage on General Motors in a research note on Thursday, March 6th. They issued a “buy” rating on the stock. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, Piper Sandler lifted their price target on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.06.

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.