GAM Holding AG Purchases Shares of 19,207 General Motors (NYSE:GM)

GAM Holding AG purchased a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,207 shares of the auto manufacturer’s stock, valued at approximately $1,023,000.

Several other hedge funds have also bought and sold shares of the stock. Golden State Wealth Management LLC bought a new position in shares of General Motors in the fourth quarter worth about $25,000. Crews Bank & Trust bought a new position in shares of General Motors in the fourth quarter worth about $26,000. Catalyst Capital Advisors LLC bought a new position in shares of General Motors in the third quarter worth about $27,000. Truvestments Capital LLC bought a new position in shares of General Motors in the third quarter worth about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of General Motors in the fourth quarter worth about $28,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 11th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada boosted their target price on General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their target price on General Motors from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $59.71.

General Motors Stock Performance

Shares of GM opened at $48.14 on Wednesday. General Motors has a 12 month low of $38.13 and a 12 month high of $61.24. The stock has a fifty day moving average price of $50.98 and a 200-day moving average price of $50.14. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The firm has a market cap of $47.89 billion, a PE ratio of 7.83, a P/E/G ratio of 0.68 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (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%. Equities research analysts predict that General Motors will post 11.28 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend 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 is currently 7.80%.

Insiders Place Their Bets

In other news, EVP Rory Harvey sold 8,919 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the transaction, the executive vice president now owns 8,513 shares of the company’s stock, valued at $510,865.13. The trade was a 51.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.72% of the stock is currently owned by insiders.

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.