Miracle Mile Advisors LLC Sells 5,214 Shares of General Motors (NYSE:GM)

Miracle Mile Advisors LLC lowered its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 49.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,245 shares of the auto manufacturer's stock after selling 5,214 shares during the period. Miracle Mile Advisors LLC's holdings in General Motors were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC raised its stake in General Motors by 456.1% in the fourth 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 in the last quarter. Strategic Financial Concepts LLC bought a new stake in General Motors during the 4th quarter valued at $783,000. Golden State Wealth Management LLC purchased a new stake in General Motors during the 4th quarter valued at $25,000. Apollon Wealth Management LLC increased its position in shares of General Motors by 14.4% in the fourth quarter. Apollon Wealth Management LLC now owns 19,509 shares of the auto manufacturer's stock valued at $1,039,000 after acquiring an additional 2,449 shares during the period. Finally, Focus Financial Network Inc. bought a new position in shares of General Motors during the fourth quarter valued at about $215,000. Institutional investors own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

GM has been the subject of several research analyst reports. Royal Bank of Canada increased their price objective on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. UBS Group cut their price target on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Mizuho upped their price objective on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Wedbush dropped their target price on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, TD Cowen assumed coverage on shares of General Motors in a research note on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $53.35.

General Motors Stock Down 1.4%

Shares of General Motors stock traded down $0.68 on Friday, reaching $48.58. The company's stock had a trading volume of 2,969,390 shares, compared to its average volume of 12,988,848. The company has a market capitalization of $46.70 billion, a price-to-earnings ratio of 7.90, a P/E/G ratio of 0.67 and a beta of 1.34. 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 52 week low of $38.96 and a 52 week high of $61.24. The firm's fifty day simple moving average is $47.09 and its two-hundred day simple moving average is $49.15.

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 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 business had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. During the same period in the prior year, the business posted $2.62 earnings per share. The company's revenue was up 2.3% on a year-over-year basis. Equities analysts anticipate that General Motors will post 11.44 earnings per share for the current year.

General Motors announced that its board has authorized a share buyback program on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given a dividend of $0.15 per share. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. General Motors's payout ratio is 8.65%.

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.