Parallel Advisors LLC Has $997,000 Stock Holdings in General Motors (NYSE:GM)

Parallel Advisors LLC lowered its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 20.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,205 shares of the auto manufacturer's stock after selling 5,384 shares during the period. Parallel Advisors LLC's holdings in General Motors were worth $997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GM. Trust Point Inc. increased its stake in shares of General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer's stock worth $386,000 after purchasing an additional 193 shares during the period. Holistic Planning LLC increased its stake in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer's stock worth $307,000 after purchasing an additional 214 shares during the period. Nemes Rush Group LLC increased its stake in shares of General Motors by 18.7% in the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock worth $73,000 after purchasing an additional 217 shares during the period. Operose Advisors LLC increased its stake in shares of General Motors by 18.7% in the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock worth $75,000 after purchasing an additional 223 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of General Motors by 0.4% in the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after purchasing an additional 226 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on GM. 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 note on Thursday, May 22nd. Mizuho boosted their price target on General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Sanford C. Bernstein set a $36.00 price target on General Motors in a research note on Monday, May 5th. Royal Bank of Canada boosted their price target on General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Barclays boosted their price target on General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors has an average rating of "Hold" and a consensus target price of $54.56.

General Motors Price Performance

Shares of GM traded down $0.45 on Thursday, hitting $47.22. The company's stock had a trading volume of 10,095,226 shares, compared to its average volume of 13,169,737. The company has a market capitalization of $45.40 billion, a PE ratio of 7.68, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. 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 price of $46.80 and a 200 day moving average price of $49.43.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.62 EPS. On average, research analysts anticipate 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. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. This is an increase from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.27%. The ex-dividend date is Friday, June 6th. General Motors's payout ratio is presently 8.65%.

General Motors declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to repurchase up to 12.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

General Motors Company 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.