111,362 Shares in General Motors (NYSE:GM) Purchased by Avanza Fonder AB

Avanza Fonder AB acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 111,362 shares of the auto manufacturer’s stock, valued at approximately $5,932,000.

A number of other hedge funds also recently added to or reduced their stakes in GM. Geode Capital Management LLC raised its stake in shares of General Motors by 0.5% during the third quarter. Geode Capital Management LLC now owns 23,620,533 shares of the auto manufacturer’s stock worth $1,055,395,000 after purchasing an additional 106,878 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in General Motors by 6.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 17,278,448 shares of the auto manufacturer’s stock worth $774,766,000 after buying an additional 989,750 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of General Motors by 3.9% in the third quarter. Diamond Hill Capital Management Inc. now owns 11,113,063 shares of the auto manufacturer’s stock valued at $498,310,000 after acquiring an additional 421,989 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in General Motors by 6.6% in the third quarter. Jacobs Levy Equity Management Inc. now owns 5,798,131 shares of the auto manufacturer’s stock valued at $259,988,000 after purchasing an additional 358,507 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of General Motors by 123.1% in the 3rd quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock valued at $144,655,000 after buying an additional 1,779,897 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of GM stock opened at $51.58 on Friday. The company’s fifty day moving average price is $53.76 and its two-hundred day moving average price is $49.58. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 1.03. The firm has a market capitalization of $56.72 billion, a P/E ratio of 5.50, a P/E/G ratio of 0.36 and a beta of 1.42. General Motors has a 12 month low of $34.32 and a 12 month high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion during the quarter, compared to analyst estimates of $44.67 billion. During the same quarter last year, the firm earned $2.28 EPS. General Motors’s quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts anticipate that General Motors will post 10.34 earnings per share for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Friday, December 6th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the sale, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. This represents a 42.19 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Rory Harvey sold 9,307 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $54.01, for a total transaction of $502,671.07. Following the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at approximately $459,787.13. The trade was a 52.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock valued at $56,509,286 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GM shares. Wedbush lifted their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $46.00 to $54.00 in a research note on Tuesday, December 10th. Sanford C. Bernstein upped their target price on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Wednesday, December 11th. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price objective on the stock. in a report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $59.68.

General Motors 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.