Alta Advisers Ltd Buys Shares of 5,572 General Motors Company (NYSE:GM)

Alta Advisers Ltd bought a new position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,572 shares of the auto manufacturer's stock, valued at approximately $262,000.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after purchasing an additional 31,755 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of General Motors by 22.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 18,161 shares of the auto manufacturer's stock valued at $967,000 after purchasing an additional 3,387 shares during the period. US Bancorp DE raised its holdings in shares of General Motors by 6.8% during the fourth quarter. US Bancorp DE now owns 108,137 shares of the auto manufacturer's stock valued at $5,760,000 after purchasing an additional 6,838 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of General Motors by 2.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 11,659 shares of the auto manufacturer's stock valued at $626,000 after purchasing an additional 290 shares during the period. Finally, Norden Group LLC raised its holdings in shares of General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock valued at $421,000 after purchasing an additional 229 shares during the period. Institutional investors own 92.67% of the company's stock.

General Motors Stock Up 0.4%

General Motors stock traded up $0.23 during midday trading on Friday, hitting $52.91. 6,612,290 shares of the stock were exchanged, compared to its average volume of 12,768,053. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The stock has a market capitalization of $50.86 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 1.42 and a beta of 1.32. The business's 50-day moving average price is $48.66 and its 200-day moving average price is $48.72. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share 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 business had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. During the same period in the previous year, the company earned $2.62 earnings per share. The firm's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.13%. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. General Motors's payout ratio is presently 8.65%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on GM shares. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. Royal Bank Of Canada upped their price objective on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research report on Monday, May 5th. UBS Group decreased their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group decreased their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, General Motors presently has a consensus 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.