General Motors Company (NYSE:GM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,412 shares of the auto manufacturer's stock after selling 8,781 shares during the period. State of Alaska Department of Revenue's holdings in General Motors were worth $8,342,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC boosted its stake in General Motors by 807.1% in the 1st quarter. CWA Asset Management Group LLC now owns 43,833 shares of the auto manufacturer's stock valued at $2,061,000 after buying an additional 39,001 shares in the last quarter. Clarius Group LLC grew its holdings in shares of General Motors by 109.7% in the 1st quarter. Clarius Group LLC now owns 18,311 shares of the auto manufacturer's stock valued at $861,000 after buying an additional 9,579 shares during the period. Insigneo Advisory Services LLC grew its position in shares of General Motors by 9.7% in the 1st quarter. Insigneo Advisory Services LLC now owns 5,861 shares of the auto manufacturer's stock valued at $276,000 after purchasing an additional 519 shares during the period. Kaydan Wealth Management Inc. increased its position in shares of General Motors by 21.6% during the first quarter. Kaydan Wealth Management Inc. now owns 25,199 shares of the auto manufacturer's stock worth $1,185,000 after acquiring an additional 4,475 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of General Motors by 40.1% in the 1st quarter. QRG Capital Management Inc. now owns 364,840 shares of the auto manufacturer's stock valued at $17,158,000 after purchasing an additional 104,433 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Wedbush dropped their price target on shares of General Motors from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Barclays upped their price target on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. UBS Group lowered their price objective on General Motors from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. BNP Paribas raised shares of General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Finally, Citigroup assumed coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a "buy" rating and a $62.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $53.35.

General Motors Price Performance

NYSE GM traded down $0.18 on Thursday, hitting $48.10. The company had a trading volume of 8,417,996 shares, compared to its average volume of 12,942,143. General Motors Company has a 12-month low of $38.96 and a 12-month high of $61.24. The company's fifty day moving average price is $47.45 and its 200-day moving average price is $48.96. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04. The company has a market capitalization of $46.25 billion, a PE ratio of 6.93, a PEG ratio of 1.30 and a beta of 1.34.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, beating the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The business's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.62 EPS. As a group, analysts predict that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Increases Dividend

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

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