Institute for Wealth Management LLC. Increases Stake in General Motors Company (NYSE:GM)

Institute for Wealth Management LLC. boosted its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 18.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,372 shares of the auto manufacturer's stock after purchasing an additional 6,668 shares during the period. Institute for Wealth Management LLC.'s holdings in General Motors were worth $1,993,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of GM. Brighton Jones LLC increased its position in shares of General Motors by 456.1% in the 4th quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock valued at $2,062,000 after acquiring an additional 31,755 shares during the period. Van ECK Associates Corp increased its holdings in shares of General Motors by 16.1% in the fourth quarter. Van ECK Associates Corp now owns 41,091 shares of the auto manufacturer's stock valued at $2,189,000 after purchasing an additional 5,707 shares during the period. Principal Securities Inc. raised its stake in shares of General Motors by 15.3% in the fourth quarter. Principal Securities Inc. now owns 32,693 shares of the auto manufacturer's stock worth $1,742,000 after purchasing an additional 4,334 shares during the last quarter. Allworth Financial LP raised its stake in shares of General Motors by 17.8% in the fourth quarter. Allworth Financial LP now owns 10,823 shares of the auto manufacturer's stock worth $571,000 after purchasing an additional 1,639 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of General Motors during the fourth quarter worth about $783,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

Shares of GM opened at $48.10 on Thursday. The firm has a 50-day simple moving average of $47.45 and a two-hundred day simple moving average of $48.96. The stock has a market cap of $46.25 billion, a PE ratio of 6.93, a P/E/G ratio of 1.30 and a beta of 1.34. General Motors Company has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results 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. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The firm had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. During the same quarter last year, the firm earned $2.62 EPS. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Friday, June 6th will be given 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 yield of 1.25%. The ex-dividend date is Friday, June 6th. General Motors's payout ratio is currently 8.65%.

General Motors declared that its board has approved a stock buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada raised their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. 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 objective on the stock. JPMorgan Chase & Co. decreased 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 report on Thursday, March 27th. The Goldman Sachs Group lowered their price target on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft downgraded General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, General Motors presently has a consensus rating of "Hold" and a consensus price target of $53.35.

About General Motors

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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