General Motors (NYSE:GM) Shares Purchased by NBC Securities Inc.

NBC Securities Inc. grew its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 100,483.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,070 shares of the auto manufacturer's stock after purchasing an additional 12,058 shares during the period. NBC Securities Inc.'s holdings in General Motors were worth $567,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of General Motors in the 4th quarter worth about $592,321,000. Amundi boosted its position in shares of General Motors by 75.5% in the 4th quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock worth $250,627,000 after buying an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC boosted its position in shares of General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock worth $394,060,000 after buying an additional 2,104,528 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of General Motors in the 4th quarter worth about $108,366,000. Finally, National Bank of Canada FI boosted its position in shares of General Motors by 54.4% in the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after buying an additional 1,180,936 shares in the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on GM. Barclays boosted their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. TD Cowen began coverage on shares of General Motors in a research report on Friday, March 7th. They issued a "buy" rating and a $105.00 price objective on the stock. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Royal Bank of Canada boosted their target price on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, General Motors presently has an average rating of "Hold" and a consensus price target of $54.56.

General Motors Trading Up 0.5%

Shares of NYSE GM traded up $0.25 on Friday, reaching $47.50. 7,948,964 shares of the company traded hands, compared to its average volume of 13,170,290. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a 50 day moving average of $46.80 and a 200 day moving average of $49.30. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $45.67 billion, a PE ratio of 7.72, a P/E/G ratio of 0.67 and a beta of 1.34.

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, beating analysts' consensus estimates of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.62 EPS. On average, equities research analysts forecast that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, June 6th. This is an increase from General Motors's previous quarterly dividend of $0.12. General Motors's dividend payout ratio is 8.65%.

General Motors announced that its board has initiated a share buyback program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are 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.