Earned Wealth Advisors LLC Purchases Shares of 11,776 General Motors Company (NYSE:GM)

Key Points

• Earned Wealth Advisors LLC recently acquired 11,776 shares of General Motors, valued at approximately $554,000, as reported in their 13F filing with the SEC.
• General Motors announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend of $0.60 and a yield of 1.1%.
• Analysts have generally rated General Motors with a consensus of "Hold," while Barclays and Citigroup have raised their price targets for the stock to $55.00 and $61.00, respectively.

Earned Wealth Advisors LLC acquired a new stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,776 shares of the auto manufacturer's stock, valued at approximately $554,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Operose Advisors LLC increased its position in shares of General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after acquiring an additional 223 shares during the last quarter. Bessemer Group Inc. increased its position in shares of General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after acquiring an additional 226 shares during the last quarter. Hohimer Wealth Management LLC increased its position in shares of General Motors by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock worth $3,310,000 after acquiring an additional 230 shares during the last quarter. HHM Wealth Advisors LLC increased its position in shares of General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer's stock worth $86,000 after acquiring an additional 232 shares during the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of General Motors by 3.6% during the first quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after acquiring an additional 235 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research report on Monday, April 14th. Industrial Alliance Securities set a $70.00 price target on General Motors in a research note on Friday, July 11th. CLSA upgraded General Motors to a "moderate buy" rating in a research note on Monday, July 7th. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price target (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. Finally, Barclays lifted their price target on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $56.35.

General Motors Stock Performance

Shares of NYSE GM traded down $0.16 during midday trading on Tuesday, hitting $52.61. 6,911,282 shares of the company's stock were exchanged, compared to its average volume of 10,351,594. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock's 50 day moving average price is $50.63 and its 200-day moving average price is $48.78. The firm has a market cap of $50.09 billion, a P/E ratio of 8.35, a PEG ratio of 1.12 and a beta of 1.36. General Motors Company has a twelve month low of $39.78 and a twelve month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The business's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.06 earnings per share. Equities research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.1%. General Motors's payout ratio is presently 9.52%.

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.