Sterneck Capital Management LLC Purchases 8,075 Shares of General Motors (NYSE:GM)

Sterneck Capital Management LLC increased its position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 151.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,424 shares of the auto manufacturer's stock after purchasing an additional 8,075 shares during the period. Sterneck Capital Management LLC's holdings in General Motors were worth $631,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Franklin Resources Inc. grew its stake in shares of General Motors by 4.2% during the 4th quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after purchasing an additional 1,170,816 shares during the period. Geode Capital Management LLC lifted its stake in General Motors by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 23,796,969 shares of the auto manufacturer's stock valued at $1,264,567,000 after buying an additional 176,436 shares in the last quarter. Dimensional Fund Advisors LP increased its position in General Motors by 1.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 14,066,883 shares of the auto manufacturer's stock worth $749,382,000 after buying an additional 228,408 shares in the last quarter. Norges Bank purchased a new stake in shares of General Motors in the fourth quarter valued at $592,321,000. Finally, Northern Trust Corp raised its stake in General Motors by 8.1% in the 4th quarter. Northern Trust Corp now owns 10,930,178 shares of the auto manufacturer's stock valued at $582,251,000 after purchasing an additional 822,454 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Price Performance

NYSE GM traded up $0.13 during midday trading on Thursday, hitting $47.80. The company had a trading volume of 3,390,036 shares, compared to its average volume of 13,189,713. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a market capitalization of $45.95 billion, a PE ratio of 7.77, a P/E/G ratio of 0.67 and a beta of 1.34. The firm has a 50-day moving average price of $46.79 and a 200-day moving average price of $49.49.

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

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

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. This is a boost from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Friday, June 6th. General Motors's payout ratio is 8.65%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on GM shares. Citigroup initiated coverage on General Motors in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $62.00 price objective for the company. Wall Street Zen downgraded shares of General Motors from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Barclays lifted their price target on shares of General Motors from $40.00 to $45.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. The Goldman Sachs Group cut their target price on General Motors from $73.00 to $63.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Finally, Mizuho upped 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. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $54.56.

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.