General Motors (NYSE:GM) Stock Holdings Reduced by Prudential PLC

Prudential PLC lowered its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,568 shares of the auto manufacturer's stock after selling 7,169 shares during the quarter. Prudential PLC's holdings in General Motors were worth $3,440,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of General Motors in the fourth quarter worth $25,000. Crews Bank & Trust acquired a new stake in shares of General Motors during the fourth quarter worth $26,000. Compass Planning Associates Inc acquired a new stake in General Motors in the 4th quarter worth about $27,000. Duncker Streett & Co. Inc. grew its holdings in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 498 shares during the period. Finally, Whittier Trust Co. increased its holdings in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on GM. Sanford C. Bernstein cut shares of General Motors from a "market perform" rating to an "underperform" rating and reduced their price target for the company from $50.00 to $35.00 in a research report on Monday. UBS Group reaffirmed a "neutral" rating and set a $51.00 price target (down from $64.00) on shares of General Motors in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised General Motors from a "hold" rating to a "buy" rating and upped their target price for the stock from $56.00 to $60.00 in a research report on Tuesday, January 21st. StockNews.com downgraded General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, TD Cowen started coverage on General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $59.33.

Insiders Place Their Bets

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of General Motors stock in a transaction dated Thursday, January 30th. The stock was acquired at an average cost of $50.66 per share, with a total value of $607,920.00. Following the completion of the transaction, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. This trade 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 can be accessed through this hyperlink. Corporate insiders own 0.72% of the company's stock.

General Motors Stock Performance

NYSE:GM traded down $0.08 during mid-day trading on Friday, hitting $43.65. The stock had a trading volume of 10,731,393 shares, compared to its average volume of 13,542,825. The company has a 50 day simple moving average of $47.36 and a 200-day simple moving average of $50.35. The stock has a market capitalization of $43.43 billion, a price-to-earnings ratio of 7.10, a P/E/G ratio of 0.67 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted 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%. On average, research analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its board has initiated a share repurchase program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Friday, March 7th. General Motors's dividend payout ratio (DPR) is presently 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.