Modera Wealth Management LLC Acquires Shares of 4,008 General Motors (NYSE:GM)

Modera Wealth Management LLC acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,008 shares of the auto manufacturer’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec grew its position in shares of General Motors by 972.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,103,036 shares of the auto manufacturer’s stock valued at $94,300,000 after purchasing an additional 1,906,964 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of General Motors by 123.1% during the third quarter. Jennison Associates LLC now owns 3,226,027 shares of the auto manufacturer’s stock worth $144,655,000 after buying an additional 1,779,897 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of General Motors by 158.8% during the third quarter. National Bank of Canada FI now owns 2,171,587 shares of the auto manufacturer’s stock worth $97,374,000 after buying an additional 1,332,450 shares in the last quarter. AustralianSuper Pty Ltd boosted its position in shares of General Motors by 35.8% in the fourth quarter. AustralianSuper Pty Ltd now owns 4,399,549 shares of the auto manufacturer’s stock valued at $234,364,000 after acquiring an additional 1,159,958 shares during the period. Finally, Ninety One UK Ltd increased its position in General Motors by 38.7% during the fourth quarter. Ninety One UK Ltd now owns 4,089,633 shares of the auto manufacturer’s stock worth $217,855,000 after acquiring an additional 1,140,569 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company’s stock.

General Motors Trading Up 7.2 %

Shares of GM stock opened at $48.48 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market cap of $48.24 billion, a P/E ratio of 7.88, a PEG ratio of 0.67 and a beta of 1.42. General Motors has a 12-month low of $38.94 and a 12-month high of $61.24. The company has a 50 day moving average of $49.98 and a 200-day moving average of $50.45.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 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%. Sell-side analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors declared that its board has authorized a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Friday, March 7th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Wall Street Analyst Weigh In

GM has been the subject of several recent research reports. Hsbc Global Res cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft raised General Motors from a “hold” rating to a “buy” rating and raised their price objective for the company from $56.00 to $60.00 in a research note on Tuesday, January 21st. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, UBS Group restated a “buy” rating on shares of General Motors in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.71.

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.