Oppenheimer Asset Management Inc. Decreases Stock Position in General Motors Company (NYSE:GM)

Oppenheimer Asset Management Inc. lowered its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 7.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,119,480 shares of the auto manufacturer's stock after selling 85,878 shares during the quarter. General Motors accounts for about 0.7% of Oppenheimer Asset Management Inc.'s holdings, making the stock its 24th biggest position. Oppenheimer Asset Management Inc. owned about 0.11% of General Motors worth $52,649,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after buying an additional 1,170,816 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of General Motors by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock worth $1,264,567,000 after buying an additional 176,436 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of General Motors by 1.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after buying an additional 228,408 shares during the last quarter. Norges Bank acquired a new position in shares of General Motors during the 4th quarter worth $592,321,000. Finally, Northern Trust Corp raised its stake in shares of General Motors by 8.1% during the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock worth $582,251,000 after buying an additional 822,454 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on GM shares. Mizuho lifted their price target on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Piper Sandler reiterated a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Royal Bank Of Canada lifted their price objective on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group dropped their price objective on General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Finally, TD Cowen assumed coverage on General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $53.35.

General Motors Trading Up 0.7%

Shares of NYSE GM traded up $0.36 on Monday, reaching $48.56. 10,623,131 shares of the company traded hands, compared to its average volume of 12,966,227. General Motors Company 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 $47.69 and a 200 day moving average of $48.78. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $46.69 billion, a PE ratio of 7.00, a P/E/G ratio of 1.29 and a beta of 1.34.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.63 by $0.15. The firm 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 3.08% and a return on equity of 14.30%. The company's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.62 EPS. On average, equities research analysts forecast that General Motors Company 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 was paid on Thursday, June 19th. Investors of record on Friday, June 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was 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.