Stablepoint Partners LLC Invests $262,000 in General Motors (NYSE:GM)

Stablepoint Partners LLC acquired a new stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,933 shares of the auto manufacturer’s stock, valued at approximately $262,000.

Other hedge funds have also recently bought and sold shares of the company. LifeSteps Financial Inc. acquired a new position in General Motors in the 1st quarter valued at $25,000. Fortitude Family Office LLC increased its stake in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock valued at $29,000 after purchasing an additional 225 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 359 shares during the period. Montag A & Associates Inc. acquired a new stake in General Motors in the 1st quarter worth about $30,000. Finally, YHB Investment Advisors Inc. purchased a new stake in General Motors in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Price Performance

GM opened at $48.15 on Friday. General Motors has a twelve month low of $26.30 and a twelve month high of $50.50. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23. The firm has a market cap of $54.94 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 0.50 and a beta of 1.43. The company has a fifty day simple moving average of $46.26 and a 200 day simple moving average of $44.69.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The company had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same period last year, the firm earned $1.91 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Equities research analysts expect that General Motors will post 9.94 EPS for the current fiscal year.

General Motors announced that its board has authorized a stock repurchase program on Tuesday, June 11th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 10.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Friday, September 6th. General Motors’s payout ratio is 5.87%.

Insider Activity

In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction on Monday, August 26th. The shares were sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the sale, the executive vice president now owns 8,513 shares in the company, valued at $417,307.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Rory Harvey sold 12,795 shares of General Motors stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $49.02, for a total value of $627,210.90. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares in the company, valued at $417,307.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 35,142 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $46.34, for a total value of $1,628,480.28. Following the sale, the president now owns 126,907 shares in the company, valued at approximately $5,880,870.38. The disclosure for this sale can be found here. In the last three months, insiders sold 376,544 shares of company stock worth $18,134,919. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GM shares. Nomura Securities upgraded shares of General Motors to a “strong sell” rating in a report on Monday, August 5th. Wolfe Research assumed coverage on shares of General Motors in a research note on Thursday. They set a “peer perform” rating for the company. Bank of America restated a “buy” rating and set a $75.00 price objective on shares of General Motors in a report on Wednesday, June 12th. StockNews.com cut General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Wedbush reissued an “outperform” rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus price target of $55.17.

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.