Proficio Capital Partners LLC Buys 547,199 Shares of General Motors (NYSE:GM)

Proficio Capital Partners LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6,084.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 556,192 shares of the auto manufacturer’s stock after buying an additional 547,199 shares during the quarter. Proficio Capital Partners LLC’s holdings in General Motors were worth $29,628,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. First Trust Direct Indexing L.P. grew its stake in General Motors by 0.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 36,727 shares of the auto manufacturer’s stock valued at $1,647,000 after purchasing an additional 282 shares during the period. Pinnacle Associates Ltd. grew its stake in General Motors by 10.5% in the 3rd quarter. Pinnacle Associates Ltd. now owns 41,753 shares of the auto manufacturer’s stock valued at $1,872,000 after purchasing an additional 3,980 shares during the period. SteelPeak Wealth LLC bought a new position in General Motors in the 3rd quarter valued at $251,000. Meitav Investment House Ltd. grew its stake in General Motors by 18.8% in the 3rd quarter. Meitav Investment House Ltd. now owns 8,534 shares of the auto manufacturer’s stock valued at $389,000 after purchasing an additional 1,349 shares during the period. Finally, US Bancorp DE grew its stake in General Motors by 12.3% in the 3rd quarter. US Bancorp DE now owns 101,299 shares of the auto manufacturer’s stock valued at $4,542,000 after purchasing an additional 11,068 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GM shares. HSBC downgraded General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research note on Wednesday, December 11th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. UBS Group reaffirmed a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Mizuho upped their price target on General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $59.71.

General Motors Stock Performance

NYSE:GM opened at $49.22 on Friday. The business’s 50-day moving average price is $50.34 and its two-hundred day moving average price is $50.35. General Motors has a twelve month low of $38.94 and a twelve month high of $61.24. The stock has a market cap of $48.97 billion, a P/E ratio of 8.00, a PEG ratio of 0.67 and a beta of 1.40. 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 (NYSE:GM) (TSE:GMM.U) last released 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%. As a group, equities analysts predict that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 0.98%. General Motors’s payout ratio is currently 7.80%.

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

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were 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 in the company, valued at approximately $694,751.24. This represents a 700.12 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

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.