Moran Wealth Management LLC Makes New $4.95 Million Investment in General Motors Company (NYSE:GM)

Moran Wealth Management LLC bought a new position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 105,168 shares of the auto manufacturer's stock, valued at approximately $4,946,000.

A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its position in General Motors by 456.1% during the 4th 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 during the last quarter. Wealthspire Advisors LLC purchased a new stake in shares of General Motors during the fourth quarter valued at approximately $245,000. IFP Advisors Inc increased its position in shares of General Motors by 282.8% during the fourth quarter. IFP Advisors Inc now owns 15,901 shares of the auto manufacturer's stock valued at $847,000 after acquiring an additional 11,747 shares in the last quarter. MMCAP International Inc. SPC increased its position in shares of General Motors by 5.9% during the fourth quarter. MMCAP International Inc. SPC now owns 90,000 shares of the auto manufacturer's stock valued at $4,794,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Johnson Financial Group LLC purchased a new position in General Motors in the 4th quarter worth approximately $455,000. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on GM shares. Royal Bank Of Canada increased their target price on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. BNP Paribas raised General Motors to a "strong-buy" rating in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Mizuho upped their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a 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 issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $53.35.

General Motors Stock Down 1.7%

Shares of GM stock opened at $48.16 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. General Motors Company has a 12 month low of $38.96 and a 12 month high of $61.24. The stock has a market cap of $46.30 billion, a P/E ratio of 6.94, a P/E/G ratio of 1.32 and a beta of 1.34. The company has a 50 day simple moving average of $47.86 and a two-hundred day simple moving average of $48.78.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a return on equity of 14.30% and a net margin of 3.08%. The firm 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 EPS. General Motors's revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were given a $0.15 dividend. This is a boost from General Motors's previous quarterly dividend of $0.12. The ex-dividend date was Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a yield of 1.25%. General Motors's dividend payout ratio is presently 8.65%.

General Motors declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to purchase up to 12.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

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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