Adage Capital Partners GP L.L.C. Grows Stake in General Motors (NYSE:GM)

Adage Capital Partners GP L.L.C. increased its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 13.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,027,386 shares of the auto manufacturer's stock after purchasing an additional 118,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.10% of General Motors worth $54,729,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Trust Point Inc. grew its holdings in General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after acquiring an additional 193 shares during the period. Holistic Planning LLC raised its position in shares of General Motors by 3.9% in the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after acquiring an additional 214 shares in the last quarter. Nemes Rush Group LLC raised 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 worth $73,000 after acquiring an additional 217 shares in the last quarter. Operose Advisors LLC raised its position in shares of General Motors by 18.7% in the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after acquiring an additional 223 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of General Motors by 0.4% in the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after acquiring an additional 226 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GM has been the subject of several research analyst reports. UBS Group reissued a "neutral" rating and issued a $51.00 price objective (down from $64.00) on shares of General Motors in a research report on Thursday, April 10th. TD Cowen initiated coverage on General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective for the company. Cowen initiated coverage on General Motors in a research report on Thursday, March 6th. They issued a "buy" rating for the company. Barclays lowered General Motors from an "overweight" rating to a "negative" rating in a research report on Tuesday, April 15th. Finally, Citigroup initiated coverage on General Motors in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 target price for the company. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, General Motors has a consensus rating of "Hold" and a consensus target price of $54.83.

Insider Activity

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The shares were purchased at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. This represents a 700.12 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company's stock.

General Motors Price Performance

NYSE:GM traded down $0.99 during mid-day trading on Tuesday, reaching $46.25. The stock had a trading volume of 13,120,376 shares, compared to its average volume of 13,351,337. The firm has a 50 day moving average price of $46.86 and a two-hundred day moving average price of $50.33. The stock has a market capitalization of $44.69 billion, a P/E ratio of 7.54, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a one year low of $38.96 and a one year 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.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the previous year, the company posted $2.62 earnings per share. The business's revenue was up 2.3% on a year-over-year basis. As a group, analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.15 per share. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.30%. General Motors's payout ratio is 7.80%.

General Motors announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

General Motors 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.