Baker Avenue Asset Management LP reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 84,212 shares of the auto manufacturer’s stock after selling 4,630 shares during the period. Baker Avenue Asset Management LP’s holdings in General Motors were worth $3,452,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Icon Wealth Partners LLC purchased a new stake in shares of General Motors during the fourth quarter valued at $106,000. Fieldpoint Private Securities LLC purchased a new stake in shares of General Motors during the third quarter valued at $119,000. Cerebellum GP LLC purchased a new stake in shares of General Motors during the fourth quarter valued at $123,000. Independence Bank of Kentucky purchased a new stake in shares of General Motors during the fourth quarter valued at $129,000. Finally, Stumpf Capital Management LLC purchased a new stake in shares of General Motors during the fourth quarter valued at $131,000. 72.96% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on GM shares. Vetr cut General Motors from a “buy” rating to a “hold” rating and set a $42.96 price objective on the stock. in a research report on Wednesday, December 20th. Zacks Investment Research cut General Motors from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. Cascend Securities cut General Motors to a “buy” rating in a research report on Tuesday, December 5th. Barclays reissued a “buy” rating and issued a $61.00 target price on shares of General Motors in a research report on Tuesday, January 9th. Finally, Nomura set a $45.00 target price on General Motors and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and three have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $44.28.
General Motors (NYSE GM) opened at $37.84 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 0.89 and a quick ratio of 0.76. General Motors has a 12 month low of $31.92 and a 12 month high of $46.76. The company has a market capitalization of $53,000.00, a PE ratio of 7.35, a PEG ratio of 0.72 and a beta of 1.60.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, February 6th. The auto manufacturer reported $1.65 EPS for the quarter, topping the consensus estimate of $1.34 by $0.31. General Motors had a positive return on equity of 22.86% and a negative net margin of 2.58%. The firm had revenue of $34.48 billion for the quarter, compared to the consensus estimate of $34.28 billion. During the same quarter last year, the company earned $1.28 earnings per share. The business’s revenue for the quarter was down 7.7% compared to the same quarter last year. research analysts expect that General Motors will post 6.25 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, March 8th. General Motors’s dividend payout ratio (DPR) is currently 29.51%.
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General Motors Profile
General Motors Company designs, builds and sells cars, trucks, crossovers and automobile parts. The Company’s segments include GM North America (GMNA), GM Europe (GME), GM International Operations (GMIO), GM South America (GMSA) and General Motors Financial Company, Inc (GM Financial). The Company provides automotive financing services through General Motors Financial Company, Inc The Company develops, manufactures and/or markets vehicles in North America under the brands, including Buick, Cadillac, Chevrolet and GMC.
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