Lake Street Advisors Group LLC Purchases 601 Shares of General Motors (NYSE:GM)

Lake Street Advisors Group LLC boosted its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,966 shares of the auto manufacturer’s stock after purchasing an additional 601 shares during the quarter. Lake Street Advisors Group LLC’s holdings in General Motors were worth $371,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of GM. Johnson Financial Group LLC bought a new stake in shares of General Motors during the fourth quarter worth about $455,000. MMCAP International Inc. SPC raised its stake in shares of General Motors by 5.9% in the fourth quarter. MMCAP International Inc. SPC now owns 90,000 shares of the auto manufacturer’s stock worth $4,794,000 after purchasing an additional 5,000 shares during the last quarter. Longbow Finance SA bought a new position in shares of General Motors in the fourth quarter valued at approximately $5,865,000. Todd Asset Management LLC boosted its position in shares of General Motors by 14.0% during the fourth quarter. Todd Asset Management LLC now owns 514,080 shares of the auto manufacturer’s stock valued at $27,385,000 after buying an additional 62,995 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in General Motors by 12.6% during the fourth quarter. Addison Advisors LLC now owns 4,962 shares of the auto manufacturer’s stock worth $264,000 after buying an additional 556 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. UBS Group reissued a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised shares of General Motors from a “hold” rating to a “buy” rating and lifted their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. Finally, HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, General Motors has an average rating of “Hold” and an average target price of $59.71.

General Motors Price Performance

GM opened at $47.68 on Friday. The firm has a 50-day moving average price of $50.40 and a 200-day moving average price of $50.31. 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 has a twelve month low of $38.94 and a twelve month high of $61.24. The company has a market capitalization of $47.44 billion, a price-to-earnings ratio of 7.75, a PEG 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 for the quarter, beating the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Equities analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company 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 $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s payout ratio is 7.80%.

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

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were 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 of the company’s stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by company insiders.

About General Motors

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.