General Motors – Buy Cheap GM Stock for Big Yields

There’s an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock but only one reason to buy. On April 29, General Motors Company‘s (NYSE:GM) Director Patricia F. Russo invested $53,385 into 1,500 shares of GM stock for a cost per share of $35.59. Bargain hunters tend to pay particular attention to insider buys like this one because presumably the only reason insiders would take their hard-earned cash and use it to buy stock of their company in the open market is that they expect to make money.

In trading on Monday, bargain hunters could buy shares of General Motors and achieve a cost basis even cheaper than Russo, with shares changing hands as low as $35.49 per share. General Motors shares were trading up about 0.4% on the day. GM stock’s low point in its 52-week range is $28.82 per share, with $39 as the 52 week high point — that compares with a last trade of $35.64. The current annualized dividend paid by GM is $1.44 per share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of June 8.

Source: InvestorPlace

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