Retirement Systems of Alabama Lowers Holdings in General Motors Company (NYSE:GM)

Retirement Systems of Alabama lowered its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 32.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 889,167 shares of the auto manufacturer's stock after selling 427,097 shares during the quarter. Retirement Systems of Alabama owned 0.09% of General Motors worth $41,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nemes Rush Group LLC increased its holdings in General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after buying an additional 217 shares during the last quarter. Operose Advisors LLC increased its stake in shares of General Motors by 18.7% in the 4th 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. Bessemer Group Inc. raised its holdings in General Motors by 0.4% in the 4th 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. Norden Group LLC lifted its position in General Motors by 3.0% during the fourth quarter. Norden Group LLC now owns 7,906 shares of the auto manufacturer's stock valued at $421,000 after purchasing an additional 229 shares in the last quarter. Finally, Royal Capital Wealth Management LLC grew its holdings in General Motors by 5.3% during the fourth quarter. Royal Capital Wealth Management LLC now owns 5,060 shares of the auto manufacturer's stock valued at $270,000 after purchasing an additional 255 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Trading Up 1.0%

General Motors stock traded up $0.50 during midday trading on Tuesday, reaching $49.02. The stock had a trading volume of 12,514,396 shares, compared to its average volume of 12,964,563. The company has a quick ratio of 1.04, a current ratio of 1.21 and a debt-to-equity ratio of 1.46. The firm has a market cap of $47.12 billion, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 1.29 and a beta of 1.34. General Motors Company has a 52-week low of $38.96 and a 52-week high of $61.24. The company has a fifty day moving average of $47.69 and a 200 day moving average of $48.78.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the prior year, the firm posted $2.62 earnings per share. The company's quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts anticipate that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Friday, June 6th were issued a $0.15 dividend. The ex-dividend date of this dividend was 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 dividend yield of 1.22%. General Motors's dividend payout ratio is presently 8.65%.

General Motors announced that its board has authorized a stock 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 buy up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GM. The Goldman Sachs Group cut their price objective on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Barclays raised their price objective on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Mizuho increased 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. Royal Bank Of Canada upped their price objective on General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, Cowen started coverage on General Motors in a research note on Thursday, March 6th. They set a "buy" rating on the stock. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, General Motors has a consensus rating of "Hold" and an average price target of $53.35.

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.