Cibc World Markets Corp Buys 21,092 Shares of General Motors (NYSE:GM)

Cibc World Markets Corp boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 13.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 174,566 shares of the auto manufacturer’s stock after purchasing an additional 21,092 shares during the period. Cibc World Markets Corp’s holdings in General Motors were worth $9,299,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in General Motors during the fourth quarter worth $26,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors in the 4th quarter valued at $27,000. Duncker Streett & Co. Inc. boosted its holdings in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of General Motors in the 4th quarter valued at $28,000. 92.67% of the stock is owned by institutional investors.

Insider Activity

In related 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, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on GM shares. TD Cowen began coverage on General Motors in a research note on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective on the stock. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research note on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “underweight” 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 increased their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Finally, UBS Group reaffirmed a “buy” 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 twelve have issued a buy rating to the company. According to MarketBeat, General Motors currently has a consensus rating of “Hold” and a consensus price target of $62.89.

General Motors Stock Performance

Shares of GM stock opened at $48.62 on Wednesday. The stock has a market capitalization of $48.38 billion, a PE ratio of 7.91, a PEG ratio of 0.67 and a beta of 1.42. The business’s 50 day simple moving average is $49.07 and its 200 day simple moving average is $50.47. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a one year low of $38.96 and a one year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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, research analysts forecast that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

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.