Meeder Advisory Services Inc. Has $1.35 Million Stake in General Motors (NYSE:GM)

Meeder Advisory Services Inc. reduced its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,351 shares of the auto manufacturer’s stock after selling 967 shares during the period. Meeder Advisory Services Inc.’s holdings in General Motors were worth $1,350,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Franklin Resources Inc. increased its holdings in General Motors by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer’s stock worth $1,559,380,000 after buying an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer’s stock worth $1,264,567,000 after purchasing an additional 176,436 shares during the last quarter. Norges Bank bought a new stake in shares of General Motors in the 4th quarter valued at about $592,321,000. ACR Alpine Capital Research LLC lifted its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer’s stock valued at $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Finally, Amundi grew its holdings in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer’s stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Stock Up 1.5 %

Shares of NYSE GM opened at $47.99 on Thursday. The company has a market cap of $47.75 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.67 and a beta of 1.42. 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 has a 12 month low of $38.96 and a 12 month high of $61.24. The stock has a 50-day moving average price of $48.58 and a two-hundred day moving average price of $50.60.

General Motors (NYSE:GM) (TSE:GMM.U) last released 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 net margin of 3.21% and a return on equity of 15.29%. As a group, analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has approved a share repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, March 7th. General Motors’s dividend payout ratio (DPR) is 7.80%.

Insider Buying and Selling

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. This represents 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 at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GM. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Piper Sandler raised their target price on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, March 20th. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a research note on Saturday, March 1st. Finally, Cowen started coverage on shares of General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.11.

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.