State of Alaska Department of Revenue Sells 5,200 Shares of General Motors (NYSE:GM)

State of Alaska Department of Revenue decreased its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 186,193 shares of the auto manufacturer’s stock after selling 5,200 shares during the period. State of Alaska Department of Revenue’s holdings in General Motors were worth $9,918,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Czech National Bank boosted its position in shares of General Motors by 5.3% during the third quarter. Czech National Bank now owns 228,954 shares of the auto manufacturer’s stock valued at $10,266,000 after buying an additional 11,533 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of General Motors during the 3rd quarter worth approximately $220,000. Dynamic Advisor Solutions LLC boosted its holdings in General Motors by 2.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 14,832 shares of the auto manufacturer’s stock valued at $665,000 after acquiring an additional 314 shares during the period. Atomi Financial Group Inc. boosted its stake in shares of General Motors by 10.4% during the third quarter. Atomi Financial Group Inc. now owns 9,436 shares of the auto manufacturer’s stock valued at $423,000 after purchasing an additional 888 shares during the period. Finally, Brookstone Capital Management grew its holdings in shares of General Motors by 5.5% in the third quarter. Brookstone Capital Management now owns 172,336 shares of the auto manufacturer’s stock worth $7,728,000 after purchasing an additional 8,986 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In related news, EVP Craig B. Glidden sold 383,142 shares of General Motors stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This trade represents a 75.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, 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 disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

General Motors Trading Up 0.2 %

Shares of General Motors stock opened at $47.91 on Friday. The firm has a market capitalization of $47.67 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.69 and a beta of 1.40. 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 has a 12-month low of $37.83 and a 12-month high of $61.24. The firm’s 50 day simple moving average is $52.11 and its two-hundred day simple moving average is $49.93.

General Motors (NYSE:GM) (TSE:GMM.U) last posted 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%. Analysts predict that General Motors will post 11.41 EPS for the current year.

General Motors Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GM shares. HSBC cut shares of General Motors from a “buy” rating to a “hold” rating and set a $58.00 price objective for the company. in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and increased their price objective for the stock from $56.00 to $60.00 in a research note on Tuesday, January 21st. Royal Bank of Canada lifted their target price on General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. DZ Bank lowered General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a research note on Friday, October 11th. Finally, Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $46.00 to $54.00 in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Motors presently has a consensus rating of “Hold” and an average target price of $61.28.

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.