Golden State Equity Partners Buys 2,425 Shares of General Motors (NYSE:GM)

Golden State Equity Partners grew its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 70.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,862 shares of the auto manufacturer’s stock after buying an additional 2,425 shares during the period. Golden State Equity Partners’ holdings in General Motors were worth $312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GM. Avantra Family Wealth Inc. bought a new position in shares of General Motors during the 4th quarter valued at about $1,044,000. Journey Strategic Wealth LLC acquired a new stake in General Motors in the 4th quarter valued at approximately $230,000. SYM FINANCIAL Corp acquired a new position in shares of General Motors during the 4th quarter worth approximately $474,000. Tritonpoint Wealth LLC acquired a new position in shares of General Motors during the 4th quarter worth approximately $209,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of General Motors during the 4th quarter worth approximately $164,000. Institutional investors own 92.67% of the company’s stock.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the sale, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. The trade was a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 514,344 shares of company stock worth $28,977,691. 0.72% of the stock is owned by company insiders.

General Motors Stock Down 3.1 %

Shares of NYSE:GM opened at $47.90 on Tuesday. General Motors has a 52-week low of $37.60 and a 52-week high of $61.24. 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 business’s 50 day simple moving average is $52.64 and its two-hundred day simple moving average is $49.95. The firm has a market cap of $47.66 billion, a P/E ratio of 7.79, a PEG ratio of 0.69 and a beta of 1.42.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share 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%. As a group, research analysts forecast that General Motors will post 11.41 EPS for the current fiscal year.

General Motors Dividend Announcement

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 dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company boosted their target price on General Motors from $35.00 to $37.00 and gave the stock an “underweight” rating in a report on Wednesday, January 29th. Mizuho boosted their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. StockNews.com upgraded General Motors from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $61.28.

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.