General Motors (NYSE:GM) Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 9.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 198,543 shares of the auto manufacturer's stock after acquiring an additional 16,555 shares during the quarter. ProShare Advisors LLC's holdings in General Motors were worth $10,576,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in GM. Golden State Wealth Management LLC purchased a new stake in shares of General Motors in the 4th quarter valued at about $25,000. Crews Bank & Trust purchased a new stake in General Motors in the fourth quarter valued at approximately $26,000. Compass Planning Associates Inc purchased a new stake in General Motors in the fourth quarter valued at approximately $27,000. Duncker Streett & Co. Inc. boosted its holdings in shares of General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after acquiring an additional 498 shares during the period. Finally, Whittier Trust Co. grew its position in shares of General Motors by 551.9% during the fourth 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. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays upped their price target on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. The Goldman Sachs Group reduced their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Wedbush lowered their price target on General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, StockNews.com cut General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $54.56.

General Motors Price Performance

Shares of GM traded down $0.82 during trading hours on Wednesday, reaching $49.39. The company had a trading volume of 7,513,802 shares, compared to its average volume of 13,347,564. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The firm has a 50 day simple moving average of $46.95 and a 200-day simple moving average of $50.00. The company has a market capitalization of $47.49 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.67 and a beta of 1.36.

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. The company had revenue of $44.02 billion during the quarter, compared to analysts' expectations of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the company posted $2.62 earnings per share. Research analysts expect that General Motors will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be issued a dividend of $0.15 per share. 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. This represents a $0.60 annualized dividend and a yield of 1.21%. General Motors's payout ratio is currently 8.65%.

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

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.