General Motors (NYSE:GM) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.8% during the fourth quarter, HoldingsChannel reports. The firm owned 5,230 shares of the auto manufacturer’s stock after purchasing an additional 674 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in General Motors were worth $279,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in General Motors in the fourth quarter valued at $25,000. Crews Bank & Trust acquired a new stake in General Motors in the fourth quarter valued at $26,000. Compass Planning Associates Inc acquired a new stake in General Motors in the fourth quarter valued at $27,000. Duncker Streett & Co. Inc. raised its holdings in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in General Motors in the fourth quarter valued at $28,000. 92.67% of the stock is owned by institutional investors and hedge funds.

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 bought at an average cost of $50.66 per share, with a total value of $607,920.00. Following the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

General Motors Stock Performance

Shares of GM opened at $49.01 on Tuesday. The firm has a 50-day moving average price of $49.14 and a 200 day moving average price of $50.48. The firm has a market capitalization of $48.76 billion, a PE ratio of 7.97, a P/E/G ratio of 0.67 and a beta of 1.42. 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 52-week low of $38.96 and a 52-week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its 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 net margin of 3.21% and a return on equity of 15.29%. On average, sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has authorized a share buyback plan 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

General Motors Dividend Announcement

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

Wall Street Analyst Weigh In

GM has been the topic of several recent analyst reports. The Goldman Sachs Group set a $73.00 price target on shares of General Motors in a report on Saturday, March 1st. Cowen started coverage on shares of General Motors in a report on Thursday, March 6th. They issued a “buy” rating on the stock. StockNews.com lowered shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 target price for the company. Finally, Mizuho boosted their target price on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $62.89.

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.