General Motors (NYSE:GM) Stock Holdings Lowered by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 3.0% in the fourth quarter, HoldingsChannel reports. The firm owned 491,011 shares of the auto manufacturer’s stock after selling 15,121 shares during the period. Pictet Asset Management Holding SA’s holdings in General Motors were worth $26,156,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of General Motors by 19.7% during the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after purchasing an additional 1,510 shares in the last quarter. SYM FINANCIAL Corp bought a new stake in shares of General Motors during the 4th quarter worth about $474,000. Asset Management One Co. Ltd. raised its position in shares of General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock worth $25,178,000 after buying an additional 39,474 shares in the last quarter. Avantra Family Wealth Inc. acquired a new stake in shares of General Motors in the 4th quarter worth approximately $1,044,000. Finally, Handelsbanken Fonder AB increased its stake in shares of General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after acquiring an additional 19,924 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

GM has been the topic of several recent research reports. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. TD Cowen began coverage on General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Cowen assumed coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating for the company. JPMorgan Chase & Co. dropped their price target on General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, Piper Sandler upped their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, March 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.11.

General Motors Stock Up 0.8 %

GM opened at $47.06 on Tuesday. The company has a market capitalization of $46.82 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. 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 fifty-two week low of $38.96 and a fifty-two week high of $61.24. The business has a 50-day moving average of $48.81 and a 200-day moving average of $50.61.

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 (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%. Equities research analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s payout ratio is 7.80%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

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.