Alpha DNA Investment Management LLC Has $676,000 Stock Position in General Motors (NYSE:GM)

Alpha DNA Investment Management LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 32.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,557 shares of the auto manufacturer’s stock after acquiring an additional 3,558 shares during the period. Alpha DNA Investment Management LLC’s holdings in General Motors were worth $676,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado grew its position in shares of General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock valued at $79,159,000 after acquiring an additional 2,035,925 shares during the period. US Bancorp DE increased its position in General Motors by 59.3% during the fourth quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after buying an additional 32,331 shares during the last quarter. GSA Capital Partners LLP raised its stake in General Motors by 317.6% in the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock valued at $2,436,000 after buying an additional 51,571 shares during the period. ACR Alpine Capital Research LLC lifted its position in shares of General Motors by 8.4% in the first quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after buying an additional 492,693 shares during the last quarter. Finally, BDF Gestion bought a new position in shares of General Motors during the 2nd quarter worth approximately $2,886,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GM has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Wedbush reissued an “outperform” rating and issued a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of General Motors from $60.00 to $61.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Bank of America reiterated a “buy” rating and issued a $75.00 price target on shares of General Motors in a research note on Wednesday, June 12th. Finally, Wolfe Research began coverage on shares of General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $54.92.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 2,302 shares of General Motors stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Paul A. Jacobson acquired 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was acquired at an average price of $44.11 per share, with a total value of $1,102,750.00. Following the purchase, the chief financial officer now directly owns 261,872 shares in the company, valued at $11,551,173.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $47.31, for a total transaction of $108,907.62. Following the sale, the executive vice president now directly owns 10,356 shares in the company, valued at approximately $489,942.36. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

General Motors Trading Up 0.1 %

GM opened at $48.07 on Wednesday. The stock has a market capitalization of $54.03 billion, a price-to-earnings ratio of 5.88, a P/E/G ratio of 0.56 and a beta of 1.43. The company has a quick ratio of 0.99, a current ratio of 1.18 and a debt-to-equity ratio of 1.23. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company has a 50-day simple moving average of $46.22 and a 200 day simple moving average of $45.42.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that General Motors will post 9.95 EPS for the current fiscal year.

General Motors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, September 6th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

General Motors announced that its board has authorized a stock buyback plan on Tuesday, June 11th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is 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.