Avanza Fonder AB Sells 14,778 Shares of General Motors (NYSE:GM)

Avanza Fonder AB lessened its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 13.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 96,584 shares of the auto manufacturer's stock after selling 14,778 shares during the period. Avanza Fonder AB's holdings in General Motors were worth $4,634,000 at the end of the most recent reporting period.

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

General Motors Trading Down 1.3%

General Motors stock traded down $0.64 during mid-day trading on Friday, reaching $48.62. 8,701,633 shares of the company traded hands, compared to its average volume of 12,985,130. The firm's 50 day moving average price is $47.21 and its 200 day moving average price is $49.11. General Motors has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $46.74 billion, a price-to-earnings ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.34.

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 for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The firm had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.62 EPS. On average, analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is presently 8.65%.

Analyst Ratings Changes

A number of analysts recently issued reports on GM shares. Wedbush decreased their price objective on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Piper Sandler reissued a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a report on Monday, April 14th. UBS Group reduced their price objective on General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Finally, Sanford C. Bernstein set a $36.00 target price on General Motors in a research report on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently 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.