Sowell Financial Services LLC Buys Shares of 6,639 General Motors Company (NYSE:GM)

Sowell Financial Services LLC purchased a new stake in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,639 shares of the auto manufacturer's stock, valued at approximately $312,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its position in General Motors by 2.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 402,861 shares of the auto manufacturer's stock worth $18,947,000 after purchasing an additional 8,026 shares during the period. Mission Wealth Management LP raised its position in General Motors by 22.6% in the 1st quarter. Mission Wealth Management LP now owns 6,240 shares of the auto manufacturer's stock worth $293,000 after purchasing an additional 1,150 shares during the period. Howard Bailey Securities LLC raised its position in General Motors by 12.9% in the 1st quarter. Howard Bailey Securities LLC now owns 6,270 shares of the auto manufacturer's stock worth $295,000 after purchasing an additional 717 shares during the period. Brighton Jones LLC raised its position in General Motors by 7.1% in the 1st quarter. Brighton Jones LLC now owns 41,470 shares of the auto manufacturer's stock worth $1,950,000 after purchasing an additional 2,753 shares during the period. Finally, Sound Income Strategies LLC raised its position in General Motors by 44.0% in the 1st quarter. Sound Income Strategies LLC now owns 2,324 shares of the auto manufacturer's stock worth $109,000 after purchasing an additional 710 shares during the period. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

GM has been the topic of a number of recent analyst reports. Barclays increased 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. Citigroup started coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 target price on the stock. TD Cowen started coverage on shares of General Motors in a research report on Friday, March 7th. They set a "buy" rating and a $105.00 target price on the stock. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group reduced their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $53.35.

General Motors Stock Up 0.0%

Shares of NYSE GM traded up $0.01 during midday trading on Friday, reaching $48.10. 22,248,468 shares of the company's stock traded hands, compared to its average volume of 12,975,624. 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 stock's 50 day simple moving average is $47.62 and its 200-day simple moving average is $48.85. General Motors Company has a one year low of $38.96 and a one year high of $61.24. The company has a market cap of $46.24 billion, a price-to-earnings ratio of 6.93, 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 released 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. The firm had revenue of $44.02 billion for 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 quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $2.62 earnings per share. On average, analysts predict that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.25%. This is an increase from General Motors's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, June 6th. General Motors's dividend payout ratio (DPR) is 8.65%.

General Motors announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

General Motors 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.