44 Wealth Management LLC Cuts Position in General Motors Company (NYSE:GM)

44 Wealth Management LLC lessened its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 61.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 22,459 shares of the auto manufacturer's stock after selling 35,247 shares during the quarter. 44 Wealth Management LLC's holdings in General Motors were worth $1,056,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whittier Trust Co. grew its holdings in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 425 shares in the last quarter. Measured Risk Portfolios Inc. purchased a new stake in shares of General Motors during the 4th quarter worth $27,000. Transce3nd LLC acquired a new position in shares of General Motors during the fourth quarter worth $34,000. North Capital Inc. purchased a new position in General Motors in the first quarter valued at $40,000. Finally, Rakuten Securities Inc. raised its stake in General Motors by 195.5% in the fourth quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock valued at $42,000 after buying an additional 524 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Performance

General Motors stock traded up $0.23 during trading hours on Friday, reaching $52.91. 6,612,290 shares of the stock were exchanged, compared to its average volume of 12,762,791. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The stock has a market cap of $50.86 billion, a P/E ratio of 7.62, a P/E/G ratio of 1.42 and a beta of 1.32. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.04 and a current ratio of 1.21. The firm's 50 day moving average is $48.54 and its 200 day moving average is $48.72.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. During the same period in the prior year, the company posted $2.62 earnings per share. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. Analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, June 6th. General Motors's dividend payout ratio (DPR) is currently 8.65%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on GM shares. Mizuho upped their price objective on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Piper Sandler restated a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Barclays boosted their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $53.35.

About General Motors

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.