Banque Pictet & Cie SA Takes Position in General Motors Company (NYSE:GM)

Banque Pictet & Cie SA acquired a new stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,855 shares of the auto manufacturer's stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also bought and sold shares of GM. Whittier Trust Co. increased its holdings in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock valued at $27,000 after purchasing an additional 425 shares during the period. Measured Risk Portfolios Inc. acquired a new stake in General Motors during the 4th quarter worth about $27,000. Transce3nd LLC acquired a new stake in General Motors during the 4th quarter worth about $34,000. North Capital Inc. acquired a new stake in General Motors during the 1st quarter worth about $40,000. Finally, Rakuten Securities Inc. boosted its position in shares of General Motors by 195.5% during the 4th quarter. Rakuten Securities Inc. now owns 792 shares of the auto manufacturer's stock worth $42,000 after purchasing an additional 524 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Price Performance

NYSE:GM traded up $0.21 during trading hours on Friday, hitting $53.36. The stock had a trading volume of 7,695,988 shares, compared to its average volume of 12,693,156. The company has a 50 day simple moving average of $49.33 and a two-hundred day simple moving average of $48.76. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The firm has a market capitalization of $51.30 billion, a price-to-earnings ratio of 7.69, a P/E/G ratio of 1.43 and a beta of 1.32.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same period in the previous year, the firm posted $2.62 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. Research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a dividend of $0.15 per share. This is an increase from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Friday, June 6th. General Motors's payout ratio is currently 8.65%.

Analyst Ratings Changes

A number of research firms have recently issued reports on GM. Citigroup began coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective on the stock. CLSA raised shares of General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Royal Bank Of Canada raised their price target on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Finally, Barclays increased their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, General Motors currently has an average rating of "Hold" and a consensus price target of $53.35.

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.