LPL Financial LLC Buys 36,922 Shares of General Motors Company (NYSE:GM)

Key Points

• LPL Financial LLC increased its stake in General Motors by 5.8% during the first quarter, bringing its total shares to 677,413, valued at approximately $31.9 million.
• UBS Group and Citigroup both raised their price targets for General Motors to $56.00 and $61.00 respectively, indicating a generally positive outlook on the company's stock.
• General Motors recently declared a quarterly dividend of $0.15, set to be paid on September 18th, translating to an annual yield of 1.1%.

LPL Financial LLC lifted its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 5.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 677,413 shares of the auto manufacturer's stock after acquiring an additional 36,922 shares during the quarter. LPL Financial LLC owned approximately 0.07% of General Motors worth $31,859,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Brighton Jones LLC raised its holdings in shares of General Motors by 456.1% during the fourth 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 in the last quarter. Wellington Management Group LLP boosted its stake in shares of General Motors by 0.6% during the 4th quarter. Wellington Management Group LLP now owns 1,195,961 shares of the auto manufacturer's stock valued at $63,709,000 after purchasing an additional 7,081 shares in the last quarter. World Investment Advisors boosted its stake in shares of General Motors by 42.8% during the 4th quarter. World Investment Advisors now owns 7,560 shares of the auto manufacturer's stock valued at $403,000 after purchasing an additional 2,266 shares in the last quarter. Pitcairn Co. boosted its stake in shares of General Motors by 106.3% during the 4th quarter. Pitcairn Co. now owns 15,181 shares of the auto manufacturer's stock valued at $809,000 after purchasing an additional 7,822 shares in the last quarter. Finally, Thoroughbred Financial Services LLC boosted its stake in shares of General Motors by 9.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 28,580 shares of the auto manufacturer's stock valued at $1,522,000 after purchasing an additional 2,554 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

GM stock traded down $0.82 during trading on Friday, reaching $52.52. The stock had a trading volume of 9,539,407 shares, compared to its average volume of 10,532,127. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24. The stock's 50 day moving average is $50.55 and its two-hundred day moving average is $48.79. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The firm has a market cap of $50.00 billion, a PE ratio of 8.34, a PEG ratio of 1.11 and a beta of 1.36.

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

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Friday, September 5th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. General Motors's dividend payout ratio (DPR) is 9.52%.

Analysts Set New Price Targets

GM has been the topic of a number of research reports. Wells Fargo & Company lifted their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 price target on General Motors in a research note on Friday, July 11th. Bank of America reduced their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Finally, Barclays upped their price target on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $56.35.

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.