Wealthfront Advisers LLC lessened its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 114,479 shares of the auto manufacturer's stock after selling 6,613 shares during the quarter. Wealthfront Advisers LLC's holdings in General Motors were worth $5,384,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. lifted its position in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after acquiring an additional 425 shares during the last quarter. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors during the 4th quarter worth about $27,000. Transce3nd LLC acquired a new position in shares of General Motors during the 4th quarter worth about $34,000. North Capital Inc. bought a new stake in General Motors during the 1st quarter valued at approximately $40,000. Finally, VSM Wealth Advisory LLC acquired a new stake in General Motors in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 92.67% of the company's stock.
General Motors Price Performance
General Motors stock traded up $0.02 during mid-day trading on Friday, hitting $53.23. 6,492,936 shares of the company were exchanged, compared to its average volume of 12,602,182. The company has a market capitalization of $51.18 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 1.43 and a beta of 1.32. The business has a fifty day moving average of $49.90 and a 200 day moving average of $48.74. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46.
General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.62 EPS. As a group, sell-side analysts expect that General Motors Company will post 11.44 earnings per share for the current year.
General Motors Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued 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 dividend yield of 1.13%. The ex-dividend date of this dividend was Friday, June 6th. General Motors's payout ratio is presently 8.65%.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on GM shares. Royal Bank Of Canada raised 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. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research report on Friday, July 11th. Citigroup began coverage on shares of General Motors in a report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Finally, Piper Sandler reissued a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Four research 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $55.17.
Get Our Latest Stock Analysis on General Motors
General Motors Company Profile
(
Free Report)
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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