Envestnet Portfolio Solutions Inc. Has $972,000 Stake in General Motors Company (NYSE:GM)

Envestnet Portfolio Solutions Inc. lessened its stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 54.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,665 shares of the auto manufacturer's stock after selling 25,031 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in General Motors were worth $972,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the period. Geode Capital Management LLC increased its stake in shares of General Motors by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock valued at $1,264,567,000 after purchasing an additional 176,436 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after buying an additional 228,408 shares during the period. Norges Bank acquired a new stake in General Motors in the 4th quarter valued at approximately $592,321,000. Finally, Northern Trust Corp raised its stake in General Motors by 8.1% during the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after acquiring an additional 822,454 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Down 1.7%

Shares of NYSE GM traded down $0.84 during mid-day trading on Wednesday, reaching $48.16. The company had a trading volume of 6,905,895 shares, compared to its average volume of 12,806,038. 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 company has a market capitalization of $46.30 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 1.30 and a beta of 1.34. The stock has a fifty day moving average of $47.78 and a two-hundred day moving average of $48.78. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $42.64 billion. During the same quarter last year, the business posted $2.62 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 6th. 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 1.25%. General Motors's dividend payout ratio (DPR) is 8.65%.

General Motors declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 26th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GM shares. TD Cowen assumed coverage on General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Mizuho raised their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Cowen initiated coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a "buy" rating for the company. JPMorgan Chase & Co. lowered their price objective 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, UBS Group decreased their price target on General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. 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 given a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of "Hold" and a consensus target price 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.