General Motors (NYSE:GM) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP lowered its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 61.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 203,133 shares of the auto manufacturer's stock after selling 319,751 shares during the quarter. ExodusPoint Capital Management LP's holdings in General Motors were worth $10,821,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. Franklin Resources Inc. increased its holdings in shares of General Motors by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock valued at $1,559,380,000 after purchasing an additional 1,170,816 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock valued at $1,264,567,000 after acquiring an additional 176,436 shares during the period. Norges Bank purchased a new stake in shares of General Motors during the 4th quarter worth approximately $592,321,000. ACR Alpine Capital Research LLC increased its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Finally, Amundi raised its holdings in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after purchasing an additional 2,113,973 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Trading Down 5.1 %

NYSE GM traded down $2.32 during mid-day trading on Thursday, hitting $43.43. The company's stock had a trading volume of 7,847,589 shares, compared to its average volume of 13,534,334. The firm has a market capitalization of $43.21 billion, a P/E ratio of 7.10, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The stock's fifty day simple moving average is $47.54 and its two-hundred day simple moving average is $50.40.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its 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 net margin of 3.21% and a return on equity of 15.29%. Research analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.11%. General Motors's payout ratio is currently 7.80%.

General Motors declared that its board has approved a stock buyback plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 target price for the company. Sanford C. Bernstein lowered shares of General Motors from a "market perform" rating to an "underperform" rating and lowered their price target for the company from $50.00 to $35.00 in a research report on Monday. Hsbc Global Res lowered General Motors from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, December 11th. Finally, Cowen initiated coverage on General Motors in a research report on Thursday, March 6th. They set a "buy" rating for the company. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $59.89.

Insider Buying and Selling

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the business's stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. This represents a 700.12 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

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.