Envestnet Asset Management Inc. Has $83.53 Million Holdings in General Motors Company (NYSE:GM)

Envestnet Asset Management Inc. trimmed its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 18.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,776,044 shares of the auto manufacturer's stock after selling 394,889 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of General Motors worth $83,527,000 at the end of the most recent reporting period.

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

General Motors Stock Performance

NYSE GM traded down $0.06 during trading on Monday, hitting $53.33. The company's stock had a trading volume of 6,927,898 shares, compared to its average volume of 12,655,709. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The firm has a 50 day moving average price of $49.33 and a 200 day moving average price of $48.69. The firm has a market cap of $51.27 billion, a P/E ratio of 7.68, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The company 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 14.30% and a net margin of 3.08%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.62 EPS. Equities research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GM. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. UBS Group raised their price objective on General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday. Wedbush cut their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Citigroup started coverage on General Motors in a research note on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price target for the company. Finally, BNP Paribas raised General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $54.61.

General Motors Company 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.