Stamos Capital Partners L.P. Cuts Holdings in General Motors (NYSE:GM)

Stamos Capital Partners L.P. cut its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 41.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,160 shares of the auto manufacturer’s stock after selling 20,230 shares during the period. Stamos Capital Partners L.P.’s holdings in General Motors were worth $1,500,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Trust Point Inc. boosted its holdings in General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock valued at $386,000 after purchasing an additional 193 shares in the last quarter. Holistic Planning LLC lifted its position in General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock valued at $307,000 after acquiring an additional 214 shares during the last quarter. Nemes Rush Group LLC boosted its position in shares of General Motors by 18.7% in the 4th quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock valued at $73,000 after purchasing an additional 217 shares during the period. Bessemer Group Inc. grew its stake in General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock worth $2,856,000 after buying an additional 226 shares during the last quarter. Finally, Norden Group LLC increased its position in General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer’s stock worth $421,000 after buying an additional 229 shares during the period. 92.67% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other General Motors 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 acquired at an average price of $50.66 per share, with a total value of $607,920.00. Following the purchase, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. Mizuho lowered their target price on shares of General Motors from $63.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday. Piper Sandler raised their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 target price for the company. The Goldman Sachs Group lowered their price target on General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a report on Thursday. Finally, StockNews.com downgraded General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of “Hold” and an average target price of $59.33.

General Motors Price Performance

GM stock opened at $43.65 on Friday. General Motors has a one year low of $38.96 and a one year high of $61.24. The firm has a 50-day moving average of $47.36 and a two-hundred day moving average of $50.35. The firm has a market capitalization of $43.43 billion, a PE ratio of 7.10, a P/E/G ratio of 0.67 and a beta of 1.27. 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 (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 return on equity of 15.29% and a net margin of 3.21%. On average, analysts forecast that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.10%. General Motors’s dividend payout ratio is 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.