Providence First Trust Co Purchases Shares of 2,729 General Motors (NYSE:GM)

Providence First Trust Co acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,729 shares of the auto manufacturer’s stock, valued at approximately $145,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in General Motors in the 4th quarter valued at $25,000. Crews Bank & Trust bought a new stake in shares of General Motors in the fourth quarter valued at about $26,000. Compass Planning Associates Inc acquired a new position in shares of General Motors in the fourth quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in General Motors during the fourth quarter worth about $28,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in General Motors in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now directly owns 13,714 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

General Motors Stock Up 3.3 %

Shares of NYSE:GM opened at $49.22 on Friday. The firm has a market cap of $48.97 billion, a P/E ratio of 8.00, a P/E/G ratio of 0.67 and a beta of 1.40. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The business has a fifty day simple moving average of $50.34 and a 200 day simple moving average of $50.35. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in 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 usually an indication that the company’s board believes its stock is undervalued.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio is currently 7.80%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a report on Wednesday, December 11th. Morgan Stanley raised 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 report on Tuesday, December 10th. StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Three investment 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’s stock. Based on data from MarketBeat, General Motors has an average rating of “Hold” and an average 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.