General Motors (NYSE:GM) Stake Cut by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lowered its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 78.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,218 shares of the auto manufacturer's stock after selling 350,692 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in General Motors were worth $5,232,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at about $592,321,000. Amundi lifted its stake in General Motors by 75.5% in the 4th 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 in the last quarter. ACR Alpine Capital Research LLC boosted its holdings in shares of General Motors by 39.8% during the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after purchasing an additional 2,104,528 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of General Motors in the fourth quarter valued at approximately $108,366,000. Finally, National Bank of Canada FI increased its holdings in shares of General Motors by 54.4% in the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after purchasing an additional 1,180,936 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Price Performance

Shares of General Motors stock traded down $0.21 during trading on Thursday, hitting $45.03. The stock had a trading volume of 15,853,121 shares, compared to its average volume of 13,421,235. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The business has a fifty day moving average of $46.82 and a two-hundred day moving average of $50.27. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The firm has a market cap of $43.51 billion, a P/E ratio of 7.32, a PEG ratio of 0.67 and a beta of 1.27.

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

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

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, June 6th. This is a positive change from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 1.33%. General Motors's dividend payout ratio is currently 7.80%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GM shares. Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price for the company. in a report on Monday, April 14th. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Citigroup assumed coverage on shares of General Motors in a research note on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price on the stock. Cowen started coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a "buy" rating for the company. Finally, Mizuho cut their price target on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating for the company in a report on Thursday, April 10th. Five research 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's stock. According to data from MarketBeat.com, General Motors currently has an average rating of "Hold" and an average target price of $54.83.

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.