OFI Invest Asset Management Invests $49,000 in General Motors (NYSE:GM)

OFI Invest Asset Management purchased a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 950 shares of the auto manufacturer’s stock, valued at approximately $49,000.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC purchased a new position in shares of General Motors during the 4th quarter worth $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the 4th quarter worth about $26,000. Truvestments Capital LLC acquired a new stake in shares of General Motors during the 3rd quarter worth about $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the 4th quarter worth about $27,000. Finally, Duncker Streett & Co. Inc. increased its position in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Performance

Shares of General Motors stock opened at $48.10 on Tuesday. General Motors has a one year low of $38.94 and a one year high of $61.24. The company has a market cap of $47.85 billion, a PE ratio of 7.82, a P/E/G ratio of 0.67 and a beta of 1.42. 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 has a 50-day simple moving average of $49.59 and a 200-day simple moving average of $50.51.

General Motors (NYSE:GM) (TSE:GMM.U) last announced 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 return on equity of 15.29% and a net margin of 3.21%. On average, equities research analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was purchased at an average price 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 trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GM shares. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their price objective for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. UBS Group reissued a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. The Goldman Sachs Group set a $73.00 price objective on General Motors in a research report on Saturday, March 1st. Finally, HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, General Motors currently has an average rating of “Hold” and an average target price 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.