General Motors (NYSE:GM) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,015 shares of the auto manufacturer’s stock after selling 6,708 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in General Motors were worth $853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $31,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 1.6 %

General Motors stock opened at $47.68 on Friday. 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 $47.44 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. General Motors has a fifty-two week low of $38.94 and a fifty-two week high of $61.24. The stock’s fifty day moving average is $50.40 and its two-hundred day moving average is $50.31.

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 return on equity of 15.29% and a net margin of 3.21%. Analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its board has approved a share repurchase plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Friday, March 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is currently 7.80%.

Insider Activity at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired 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 approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group restated a “buy” rating on shares of General Motors in a research note on Monday, February 3rd. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research note on Wednesday, December 11th. Finally, Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.