Cibc World Markets Corp Acquires 21,092 Shares of General Motors (NYSE:GM)

Cibc World Markets Corp raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 174,566 shares of the auto manufacturer’s stock after acquiring an additional 21,092 shares during the quarter. Cibc World Markets Corp’s holdings in General Motors were worth $9,299,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Harbour Investments Inc. grew its position in shares of General Motors by 4.5% during the 4th quarter. Harbour Investments Inc. now owns 12,848 shares of the auto manufacturer’s stock worth $684,000 after buying an additional 559 shares during the period. Corient Private Wealth LLC grew its holdings in General Motors by 6.8% during the fourth quarter. Corient Private Wealth LLC now owns 353,506 shares of the auto manufacturer’s stock valued at $18,829,000 after purchasing an additional 22,475 shares during the period. Natixis Advisors LLC grew its holdings in General Motors by 3.9% during the fourth quarter. Natixis Advisors LLC now owns 1,194,090 shares of the auto manufacturer’s stock valued at $63,609,000 after purchasing an additional 45,081 shares during the period. Frank Rimerman Advisors LLC increased its stake in General Motors by 14.8% in the fourth quarter. Frank Rimerman Advisors LLC now owns 5,230 shares of the auto manufacturer’s stock valued at $279,000 after purchasing an additional 674 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd raised its holdings in General Motors by 154.8% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 23,700 shares of the auto manufacturer’s stock worth $1,262,000 after purchasing an additional 14,400 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on shares of General Motors in a research report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. UBS Group restated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research note on Wednesday, December 11th. Finally, Cowen began coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, General Motors presently has a consensus rating of “Hold” and a consensus target price of $62.89.

General Motors Stock Down 0.8 %

GM stock opened at $48.62 on Wednesday. The company has a market cap of $48.38 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.42. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The business has a 50 day moving average price of $49.07 and a two-hundred day moving average price of $50.47. 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 released 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%. Analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s payout ratio is 7.80%.

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

Insider Activity at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

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.