6,037 Shares in General Motors (NYSE:GM) Acquired by Cornerstone Select Advisors LLC

Cornerstone Select Advisors LLC purchased a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,037 shares of the auto manufacturer's stock, valued at approximately $322,000.

A number of other large investors have also recently added to or reduced their stakes in GM. Norges Bank acquired a new stake in shares of General Motors in the fourth quarter valued at $592,321,000. Amundi lifted its stake in General Motors by 75.5% in the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after acquiring an additional 2,113,973 shares during the last quarter. ACR Alpine Capital Research LLC grew its stake in shares of General Motors by 39.8% during the fourth quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after purchasing an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of General Motors in the 4th quarter valued at about $108,366,000. Finally, National Bank of Canada FI raised its holdings in General Motors by 54.4% during the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after purchasing an additional 1,180,936 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GM shares. The Goldman Sachs Group decreased their target price on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Royal Bank of Canada lifted their price objective on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Barclays increased their price target on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday. JPMorgan Chase & Co. lowered their target price on General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of "Hold" and a consensus target price of $54.28.

General Motors Stock Performance

NYSE GM traded up $0.16 during trading hours on Friday, hitting $47.51. The company had a trading volume of 8,581,366 shares, compared to its average volume of 13,425,363. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a market cap of $45.68 billion, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The business has a fifty day simple moving average of $46.63 and a 200-day simple moving average of $50.10.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. General Motors's revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.62 EPS. Equities analysts predict that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. General Motors's dividend payout ratio is presently 8.65%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is 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.