Sagespring Wealth Partners LLC Purchases New Position in General Motors (NYSE:GM)

Sagespring Wealth Partners LLC purchased a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,142 shares of the auto manufacturer's stock, valued at approximately $487,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Trust Point Inc. boosted its holdings in shares of General Motors by 2.7% in the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock valued at $386,000 after purchasing an additional 193 shares in the last quarter. 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 boosted its stake in General Motors by 18.7% during the fourth 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. Bessemer Group Inc. grew its stake in General Motors by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after acquiring an additional 226 shares during the period. Finally, Norden Group LLC grew its holdings in shares of General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock valued at $421,000 after buying an additional 229 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GM has been the topic of a number of research analyst reports. Piper Sandler increased their price target on shares of General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, March 20th. StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Wells Fargo & Company reissued an "underweight" rating on shares of General Motors in a research note on Monday, February 3rd. Barclays lowered General Motors from an "overweight" rating to a "negative" rating in a research report on Tuesday, April 15th. Finally, Mizuho reduced their target price on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.72.

Insider Transactions at General Motors

In other news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction dated Thursday, January 30th. The shares were acquired at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by insiders.

General Motors Stock Up 0.7 %

Shares of GM traded up $0.33 during midday trading on Friday, reaching $44.55. 11,706,110 shares of the company were exchanged, compared to its average volume of 13,552,778. The stock has a 50-day moving average price of $47.10 and a 200-day moving average price of $50.37. The company has a market cap of $44.32 billion, a price-to-earnings ratio of 7.24, a P/E/G ratio of 0.67 and a beta of 1.27. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. 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 (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 (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's payout ratio is 7.80%.

General Motors declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

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.