Parallel Advisors LLC Sells 5,384 Shares of General Motors (NYSE:GM)

Parallel Advisors LLC lowered its stake in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 20.2% in the first quarter, according to its most recent disclosure with the 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 filing with the SEC.

Other large investors have also made changes to their positions in the company. Trust Point Inc. raised its position in 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 in the last quarter. Holistic Planning LLC raised its position in 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 in the last quarter. Nemes Rush Group LLC raised its position in 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 in the last quarter. Operose Advisors LLC raised its position in 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 in the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock worth $2,856,000 after buying an additional 226 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on GM. Barclays raised their price objective on shares of General Motors from $40.00 to $45.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Piper Sandler reaffirmed a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price objective for the company. in a report on Monday, April 14th. JPMorgan Chase & Co. dropped their price objective on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.56.

General Motors Price Performance

Shares of GM traded down $1.18 during mid-day trading on Wednesday, hitting $47.88. 6,756,888 shares of the company traded hands, compared to its average volume of 13,080,209. General Motors has a one year low of $38.96 and a one year high of $61.24. The stock has a market capitalization of $46.03 billion, a price-to-earnings ratio of 7.79, a PEG ratio of 0.67 and a beta of 1.34. 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 business has a 50-day moving average of $46.77 and a 200 day moving average of $49.51.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. During the same period last year, the firm earned $2.62 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

General Motors Increases Dividend

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

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.