Denali Advisors LLC Sells 2,400 Shares of General Motors (NYSE:GM)

Denali Advisors LLC reduced its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 13.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,000 shares of the auto manufacturer’s stock after selling 2,400 shares during the quarter. Denali Advisors LLC’s holdings in General Motors were worth $799,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of General Motors stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft upgraded shares of General Motors from a “hold” rating to a “buy” rating and boosted their price target for the company from $56.00 to $60.00 in a research report on Tuesday, January 21st. Wells Fargo & Company reiterated an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Finally, Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $59.71.

General Motors Stock Performance

GM stock opened at $48.39 on Thursday. The stock’s 50 day simple moving average is $50.45 and its 200 day simple moving average is $50.33. 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 $38.94 and a 12-month high of $61.24. The stock has a market capitalization of $48.14 billion, a PE ratio of 7.87, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

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

General Motors Dividend Announcement

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

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.