GAMMA Investing LLC Increases Position in General Motors (NYSE:GM)

GAMMA Investing LLC increased its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 5,102.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 946,855 shares of the auto manufacturer's stock after buying an additional 928,655 shares during the period. GAMMA Investing LLC owned about 0.10% of General Motors worth $44,531,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after purchasing an additional 31,755 shares during the last quarter. Journey Strategic Wealth LLC purchased a new stake in shares of General Motors in the 4th quarter valued at approximately $230,000. Golden State Equity Partners increased its position in shares of General Motors by 70.6% in the 4th quarter. Golden State Equity Partners now owns 5,862 shares of the auto manufacturer's stock valued at $312,000 after purchasing an additional 2,425 shares during the last quarter. McAdam LLC purchased a new stake in shares of General Motors in the 4th quarter valued at approximately $221,000. Finally, HHM Wealth Advisors LLC increased its position in shares of General Motors by 21.9% in the 4th quarter. HHM Wealth Advisors LLC now owns 1,606 shares of the auto manufacturer's stock valued at $86,000 after purchasing an additional 289 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Performance

NYSE:GM traded down $0.45 during trading hours on Thursday, reaching $47.22. 10,095,226 shares of the company's stock were exchanged, compared to its average volume of 13,215,751. The firm has a market capitalization of $45.40 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a 50-day moving average of $46.79 and a 200 day moving average of $49.49. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. General Motors has a 1-year low of $38.96 and a 1-year 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the prior year, the business earned $2.62 EPS. General Motors's quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio (DPR) is 8.65%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GM shares. Piper Sandler reissued a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped 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 report on Thursday, March 27th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. UBS Group lowered their target price on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, Wall Street Zen cut shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $54.56.

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.