Forum Financial Management LP Raises Position in General Motors (NYSE:GM)

Forum Financial Management LP grew its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 58.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,102 shares of the auto manufacturer's stock after acquiring an additional 7,389 shares during the period. Forum Financial Management LP's holdings in General Motors were worth $1,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC boosted its holdings in General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after buying an additional 31,755 shares during the period. Cornerstone Wealth Management LLC boosted its holdings in General Motors by 25.1% in the 4th quarter. Cornerstone Wealth Management LLC now owns 10,007 shares of the auto manufacturer's stock worth $533,000 after buying an additional 2,006 shares during the period. Curated Wealth Partners LLC boosted its holdings in General Motors by 6.2% in the 4th quarter. Curated Wealth Partners LLC now owns 21,596 shares of the auto manufacturer's stock worth $1,150,000 after buying an additional 1,252 shares during the period. DGS Capital Management LLC boosted its holdings in General Motors by 3.9% in the 4th quarter. DGS Capital Management LLC now owns 48,342 shares of the auto manufacturer's stock worth $2,575,000 after buying an additional 1,800 shares during the period. Finally, Moody Lynn & Lieberson LLC bought a new position in General Motors in the 4th quarter worth approximately $215,000. 92.67% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on GM. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They issued a "buy" rating for the company. Wedbush cut their price objective on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target for the company. in a report on Monday, April 14th. Barclays raised their price target on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, The Goldman Sachs Group cut their price target 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. 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 stock has an average rating of "Hold" and an average target price of $54.56.

General Motors Price Performance

Shares of General Motors stock traded up $1.20 on Friday, hitting $49.79. 4,205,835 shares of the company traded hands, compared to its average volume of 13,249,338. The firm's 50-day simple moving average is $46.86 and its 200 day simple moving average is $49.74. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a market cap of $47.87 billion, a P/E ratio of 8.09, a P/E/G ratio of 0.67 and a beta of 1.36. General Motors 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 posted its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion for 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 business's quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $2.62 EPS. Analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.21%. 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 presently 8.65%.

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

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.