Fisher Asset Management LLC Has $47.16 Million Holdings in General Motors (NYSE:GM)

Fisher Asset Management LLC trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 56.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 885,213 shares of the auto manufacturer’s stock after selling 1,148,715 shares during the period. Fisher Asset Management LLC’s holdings in General Motors were worth $47,155,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors during the fourth quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in General Motors during the 4th quarter worth $26,000. Catalyst Capital Advisors LLC bought a new position in General Motors in the 3rd quarter valued at $27,000. Truvestments Capital LLC acquired a new stake in shares of General Motors in the 3rd quarter valued at $27,000. Finally, Compass Planning Associates Inc bought a new stake in shares of General Motors during the fourth quarter worth $27,000. Institutional investors own 92.67% of the company’s stock.

General Motors Price Performance

Shares of GM opened at $49.22 on Monday. The stock has a 50 day simple moving average of $50.34 and a 200 day simple moving average of $50.45. General Motors has a 52-week low of $38.94 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 firm has a market capitalization of $48.97 billion, a PE ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Sell-side analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares of the company’s stock, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

GM has been the topic of several recent research reports. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. UBS Group reiterated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and upped their target price for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus target price of $59.71.

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.