Wedbush Securities Inc. Has $1.36 Million Holdings in General Motors (NYSE:GM)

Wedbush Securities Inc. increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,483 shares of the auto manufacturer’s stock after purchasing an additional 1,253 shares during the quarter. Wedbush Securities Inc.’s holdings in General Motors were worth $1,357,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of GM. Blue Trust Inc. increased its stake in shares of General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock valued at $488,000 after buying an additional 1,510 shares during the period. SYM FINANCIAL Corp bought a new stake in General Motors in the fourth quarter valued at approximately $474,000. Asset Management One Co. Ltd. increased its position in 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 valued at $25,178,000 after purchasing an additional 39,474 shares during the period. Avantra Family Wealth Inc. bought a new position in General Motors during the 4th quarter worth approximately $1,044,000. Finally, Handelsbanken Fonder AB lifted its position in shares of General Motors by 10.9% in the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after purchasing an additional 19,924 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Trading Down 3.7 %

Shares of General Motors stock opened at $44.22 on Monday. 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 stock has a fifty day simple moving average of $48.22 and a 200 day simple moving average of $50.58. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a market capitalization of $44.00 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating 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%. On average, sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. General Motors’s payout ratio is presently 7.80%.

General Motors announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

GM has been the subject of a number of analyst reports. UBS Group reissued a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective on the stock. in a research note on Wednesday, December 11th. TD Cowen initiated coverage on General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price for the company. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Finally, Morgan Stanley upgraded shares of General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.11.

Insider Activity

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction that occurred on 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 completion of the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

About General Motors

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.