HB Wealth Management LLC Purchases 14,692 Shares of General Motors Company (NYSE:GM)

Key Points

• HB Wealth Management LLC increased its stake in General Motors by 62.7% in the 1st quarter, purchasing an additional 14,692 shares, bringing its total holdings to 38,111 shares valued at approximately $1.79 million.
• General Motors reported $2.53 earnings per share for the last quarter, slightly above the consensus estimate, with a revenue of $47.12 billion, indicating a 1.8% year-over-year decline.
• The company announced a quarterly dividend of $0.15 per share, resulting in a dividend yield of 1.12% and reflecting a modest payout ratio of 9.52%.

HB Wealth Management LLC increased its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 62.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,111 shares of the auto manufacturer's stock after acquiring an additional 14,692 shares during the period. HB Wealth Management LLC's holdings in General Motors were worth $1,792,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Measured Risk Portfolios Inc. acquired a new position in shares of General Motors in the 4th quarter valued at $27,000. Transce3nd LLC bought a new position in General Motors during the fourth quarter worth about $34,000. Ossiam bought a new position in General Motors during the fourth quarter worth about $44,000. North Capital Inc. acquired a new stake in General Motors during the first quarter worth approximately $40,000. Finally, Princeton Global Asset Management LLC raised its position in shares of General Motors by 141.0% in the first quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock valued at $50,000 after buying an additional 626 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Down 0.1%

Shares of NYSE GM traded down $0.03 during midday trading on Wednesday, hitting $52.08. The stock had a trading volume of 7,828,131 shares, compared to its average volume of 12,293,979. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The business's 50 day moving average is $50.33 and its 200-day moving average is $48.75. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a market cap of $49.58 billion, a P/E ratio of 8.27, a PEG ratio of 1.13 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. The business had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm's revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.06 earnings per share. As a group, analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a yield of 1.15%. General Motors's payout ratio is 9.52%.

Analyst Upgrades and Downgrades

GM has been the topic of a number of research reports. UBS Group boosted their target price on shares of General Motors from $50.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. BNP Paribas upgraded shares of General Motors to a "strong-buy" rating in a report on Monday, May 5th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research report on Friday, July 11th. Wells Fargo & Company increased their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. Finally, Benchmark began coverage on shares of General Motors in a research note on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $56.35.

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.