Malaga Cove Capital LLC Purchases New Position in General Motors Company (NYSE:GM)

Key Points

• Malaga Cove Capital LLC has acquired a new position in General Motors Company, purchasing 6,211 shares valued at approximately $292,000 in the first quarter.
• General Motors reported $2.53 earnings per share for the last quarter, exceeding analysts' estimates, although revenue decreased by 1.8% year-over-year.
• The company has announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend yield of 1.1%.

Malaga Cove Capital LLC purchased a new stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 6,211 shares of the auto manufacturer's stock, valued at approximately $292,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Measured Risk Portfolios Inc. purchased a new position in shares of General Motors in the 4th quarter valued at about $27,000. Transce3nd LLC acquired a new stake in General Motors in the 4th quarter worth about $34,000. North Capital Inc. acquired a new stake in General Motors in the 1st quarter worth about $40,000. Ossiam acquired a new stake in General Motors in the 4th quarter worth about $44,000. Finally, Princeton Global Asset Management LLC boosted its holdings in General Motors by 141.0% in the 1st quarter. Princeton Global Asset Management LLC now owns 1,070 shares of the auto manufacturer's stock worth $50,000 after buying an additional 626 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Down 1.5%

Shares of NYSE GM opened at $52.52 on Friday. The firm has a market cap of $50.00 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.11 and a beta of 1.35. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The business's 50 day moving average is $50.55 and its two-hundred day moving average is $48.79.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, topping 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 business had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same quarter in the prior year, the company earned $3.06 earnings per share. The company's revenue was down 1.8% on a year-over-year basis. Research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The company 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 is Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. General Motors's payout ratio is presently 9.52%.

Wall Street Analysts Forecast Growth

GM has been the topic of several research analyst reports. Sanford C. Bernstein set a $36.00 price objective on General Motors in a report on Monday, May 5th. BNP Paribas upgraded General Motors to a "strong-buy" rating in a report on Monday, May 5th. Wedbush reiterated an "outperform" rating and issued a $55.00 price objective on shares of General Motors in a report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on General Motors from $34.00 to $38.00 and gave the stock an "underweight" rating in a report on Wednesday, July 23rd. Finally, Deutsche Bank Aktiengesellschaft cut General Motors from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target 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.

Want to see what other hedge funds are holding GM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General Motors Company (NYSE:GM - Free Report) TSE: GMM.U.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.