Farther Finance Advisors LLC Increases Position in General Motors (NYSE:GM)

Farther Finance Advisors LLC lifted its position in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 88.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,509 shares of the auto manufacturer's stock after purchasing an additional 7,761 shares during the period. Farther Finance Advisors LLC's holdings in General Motors were worth $780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new position in General Motors during the fourth quarter valued at $25,404,000. Asset Management One Co. Ltd. grew its stake in General Motors by 9.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after acquiring an additional 39,474 shares in the last quarter. Handelsbanken Fonder AB grew its stake in General Motors by 10.9% during the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock valued at $10,763,000 after acquiring an additional 19,924 shares in the last quarter. Vontobel Holding Ltd. grew its stake in General Motors by 65.3% during the fourth quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer's stock valued at $3,459,000 after acquiring an additional 25,639 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. grew its stake in General Motors by 150.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 52,500 shares of the auto manufacturer's stock valued at $2,797,000 after acquiring an additional 31,500 shares in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Down 1.3%

NYSE:GM opened at $48.62 on Friday. General Motors has a one year low of $38.96 and a one year high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a market cap of $46.74 billion, a P/E ratio of 7.91, a P/E/G ratio of 0.67 and a beta of 1.34. The firm has a 50-day simple moving average of $47.21 and a 200-day simple moving average of $49.11.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same quarter in the previous year, the business posted $2.62 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Equities analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

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

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.23%. This is a positive change from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is currently 8.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on GM shares. Wedbush dropped their price objective on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Royal Bank of Canada lifted their price objective on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Cowen started coverage on shares of General Motors in a research note on Thursday, March 6th. They issued a "buy" rating for the company. Barclays lifted their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Sanford C. Bernstein set a $36.00 price objective on shares of General Motors in a research note on Monday, May 5th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $53.35.

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.

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