Trek Financial LLC Purchases 4,750 Shares of General Motors (NYSE:GM)

Trek Financial LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 23.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 25,269 shares of the auto manufacturer’s stock after buying an additional 4,750 shares during the quarter. Trek Financial LLC’s holdings in General Motors were worth $1,346,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GM. Federated Hermes Inc. raised its position in General Motors by 90.6% in the 4th quarter. Federated Hermes Inc. now owns 643,349 shares of the auto manufacturer’s stock worth $34,271,000 after buying an additional 305,793 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of General Motors by 5.0% during the 4th quarter. Quadrant Capital Group LLC now owns 8,417 shares of the auto manufacturer’s stock valued at $448,000 after acquiring an additional 400 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co bought a new stake in shares of General Motors in the fourth quarter worth approximately $5,327,000. Wedbush Securities Inc. raised its holdings in shares of General Motors by 5.2% during the fourth quarter. Wedbush Securities Inc. now owns 25,483 shares of the auto manufacturer’s stock valued at $1,357,000 after purchasing an additional 1,253 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in General Motors by 4.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 2,170,933 shares of the auto manufacturer’s stock valued at $115,646,000 after purchasing an additional 96,337 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

General Motors Stock Performance

NYSE:GM opened at $44.22 on Monday. The stock has a 50-day moving average price of $48.22 and a 200 day moving average price of $50.58. The stock has a market capitalization of $44.00 billion, a P/E ratio of 7.19, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

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

General Motors Dividend Announcement

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

General Motors announced that its board has authorized a share repurchase program 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 programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

GM has been the subject of a number of research analyst reports. HSBC downgraded shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research report on Wednesday, December 11th. Piper Sandler upped their price objective on General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Mizuho increased their target price on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Hsbc Global Res downgraded General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of General Motors from $64.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of “Hold” and an average target price of $62.11.

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.72% of the stock is 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.