Udine Wealth Management Inc. Makes New Investment in General Motors (NYSE:GM)

Udine Wealth Management Inc. acquired a new stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 41,634 shares of the auto manufacturer's stock, valued at approximately $1,958,000. General Motors makes up approximately 1.3% of Udine Wealth Management Inc.'s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new stake in General Motors during the 4th quarter valued at $25,404,000. Asset Management One Co. Ltd. boosted its position in General Motors by 9.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer's stock valued at $25,178,000 after buying an additional 39,474 shares during the period. Handelsbanken Fonder AB boosted its position in General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer's stock valued at $10,763,000 after buying an additional 19,924 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in General Motors during the 4th quarter valued at $394,000. Finally, Vontobel Holding Ltd. boosted its position in General Motors by 65.3% during the 4th quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer's stock valued at $3,459,000 after buying an additional 25,639 shares during the period. Hedge funds and other institutional investors own 92.67% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on GM. Barclays increased 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 report on Monday, May 5th. Royal Bank of Canada increased their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. UBS Group reduced their price objective on shares of General Motors from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a report on Monday, May 5th. Finally, TD Cowen started coverage on shares of General Motors in a report on Friday, March 7th. They set a "buy" rating and a $105.00 price target on the stock. Four 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $54.56.

General Motors Price Performance

Shares of General Motors stock traded up $0.98 on Tuesday, hitting $48.91. 7,926,884 shares of the company traded hands, compared to its average volume of 13,100,931. The stock has a market capitalization of $47.02 billion, a P/E ratio of 7.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The business has a 50-day simple moving average of $46.86 and a 200 day simple moving average of $49.22.

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 the consensus estimate of $2.63 by $0.15. The firm had revenue of $44.02 billion for 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 company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.62 earnings per share. Research analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

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

General Motors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors's previous quarterly dividend of $0.12. General Motors's payout ratio is currently 8.65%.

General Motors Company 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.