6,226 Shares in General Motors (NYSE:GM) Bought by Portside Wealth Group LLC

Portside Wealth Group LLC acquired a new position in General Motors (NYSE:GM - Free Report) TSE: GMM.U during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,226 shares of the auto manufacturer's stock, valued at approximately $293,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in General Motors in the fourth quarter valued at about $25,000. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors in the 4th quarter valued at approximately $27,000. Compass Planning Associates Inc purchased a new position in shares of General Motors during the 4th quarter valued at approximately $27,000. Whittier Trust Co. boosted its stake in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 425 shares during the last quarter. Finally, Duncker Streett & Co. Inc. grew its position in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock worth $27,000 after buying an additional 498 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the topic of several research analyst reports. TD Cowen assumed coverage on shares of General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. Piper Sandler reissued a "neutral" rating and set a $48.00 target price (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Finally, 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. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $54.56.

General Motors Stock Down 0.9%

Shares of General Motors stock opened at $47.22 on Friday. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24. The company has a market cap of $45.40 billion, a P/E ratio of 7.68, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a 50-day moving average price of $46.80 and a 200 day moving average price of $49.43.

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 analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same period in the prior year, the firm earned $2.62 earnings per share. The firm's revenue was up 2.3% compared to the same quarter last year. As a group, analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.27%. General Motors's dividend payout ratio (DPR) is presently 8.65%.

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.