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

Proficio Capital Partners LLC raised its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 6,084.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 556,192 shares of the auto manufacturer’s stock after acquiring an additional 547,199 shares during the period. Proficio Capital Partners LLC owned about 0.06% of General Motors worth $29,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its holdings in shares of General Motors by 22.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 18,161 shares of the auto manufacturer’s stock worth $967,000 after purchasing an additional 3,387 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of General Motors by 2.0% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 538,400 shares of the auto manufacturer’s stock worth $28,681,000 after purchasing an additional 10,500 shares during the last quarter. Lake Street Advisors Group LLC grew its holdings in shares of General Motors by 9.4% during the fourth quarter. Lake Street Advisors Group LLC now owns 6,966 shares of the auto manufacturer’s stock worth $371,000 after purchasing an additional 601 shares during the last quarter. Johnson Financial Group LLC bought a new stake in shares of General Motors during the fourth quarter worth about $455,000. Finally, MMCAP International Inc. SPC grew its holdings in shares of General Motors by 5.9% during the fourth quarter. MMCAP International Inc. SPC now owns 90,000 shares of the auto manufacturer’s stock worth $4,794,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GM shares. UBS Group restated a “buy” rating on shares of General Motors in a report on Monday, February 3rd. HSBC cut General Motors from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and boosted their price target for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Hsbc Global Res lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, Morgan Stanley raised General Motors from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $46.00 to $54.00 in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $59.71.

General Motors Price Performance

Shares of GM opened at $49.22 on Friday. General Motors has a 52-week low of $38.94 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The business’s 50 day moving average price is $50.34 and its two-hundred day moving average price is $50.35. The firm has a market cap of $48.97 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) 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, equities analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

The company 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 dividend of $0.12 per share. 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 dividend payout ratio is 7.80%.

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.