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

Portside Wealth Group LLC bought a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 GM. Accel Wealth Management acquired a new position in shares of General Motors in the 1st quarter worth approximately $205,000. Merit Financial Group LLC boosted its position in shares of General Motors by 298.8% during the first quarter. Merit Financial Group LLC now owns 73,068 shares of the auto manufacturer's stock worth $3,436,000 after buying an additional 54,745 shares during the period. Fragasso Financial Advisors Inc acquired a new stake in shares of General Motors in the first quarter valued at $1,543,000. NBC Securities Inc. raised its holdings in shares of General Motors by 100,483.3% in the 1st quarter. NBC Securities Inc. now owns 12,070 shares of the auto manufacturer's stock valued at $567,000 after buying an additional 12,058 shares during the period. Finally, Ervin Investment Management LLC increased its stake in General Motors by 3.7% during the first quarter. Ervin Investment Management LLC now owns 79,450 shares of the auto manufacturer's stock worth $3,737,000 after purchasing an additional 2,820 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

GM stock traded up $0.47 on Monday, reaching $47.94. The company had a trading volume of 6,466,691 shares, compared to its average volume of 13,143,479. The company's fifty day moving average is $46.80 and its 200 day moving average is $49.30. The company has a market cap of $46.09 billion, a P/E ratio of 7.79, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 1 year low of $38.96 and a 1 year high of $61.24.

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

General Motors declared that its board has authorized a stock buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued 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 annualized dividend and a dividend yield of 1.25%. General Motors's dividend payout ratio (DPR) is 8.65%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GM shares. Royal Bank of Canada upped their target price on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. TD Cowen initiated coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 target price on the stock. The Goldman Sachs Group dropped their price objective on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Mizuho upped their price objective on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Citigroup assumed coverage on shares of General Motors in a research note on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price target for the company. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $54.56.

General Motors 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.