Axxcess Wealth Management LLC Grows Holdings in General Motors Company (NYSE:GM)

Axxcess Wealth Management LLC increased its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 20.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,546 shares of the auto manufacturer's stock after purchasing an additional 5,773 shares during the quarter. Axxcess Wealth Management LLC's holdings in General Motors were worth $1,625,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. raised its holdings 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 worth $27,000 after acquiring an additional 425 shares during the period. Measured Risk Portfolios Inc. purchased a new position in General Motors during the fourth quarter worth about $27,000. Transce3nd LLC acquired a new position in General Motors in the 4th quarter valued at about $34,000. North Capital Inc. purchased a new stake in shares of General Motors in the 1st quarter valued at approximately $40,000. Finally, Rakuten Securities Inc. increased its stake in General Motors by 195.5% during the fourth quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock worth $42,000 after acquiring an additional 524 shares during the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on GM. UBS Group dropped their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Citigroup began coverage on General Motors in a report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective on the stock. Piper Sandler restated a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. JPMorgan Chase & Co. cut their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Finally, BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Four equities 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 MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $53.35.

General Motors Price Performance

NYSE:GM traded up $0.21 during trading hours on Friday, hitting $53.36. The company's stock had a trading volume of 7,695,988 shares, compared to its average volume of 12,693,155. General Motors Company 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 1.46, a quick ratio of 1.04 and a current ratio of 1.21. The business's 50-day moving average is $49.17 and its two-hundred day moving average is $48.76. The company has a market capitalization of $51.30 billion, a PE ratio of 7.69, a PEG ratio of 1.43 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter in the previous year, the firm earned $2.62 earnings per share. The firm's revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors 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 1.12%. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 6th. General Motors's dividend payout ratio is presently 8.65%.

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.