Udine Wealth Management Inc. Acquires Shares of 41,634 General Motors (NYSE:GM)

Udine Wealth Management Inc. bought a new position in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 41,634 shares of the auto manufacturer's stock, valued at approximately $1,958,000. General Motors accounts for 1.3% of Udine Wealth Management Inc.'s investment portfolio, making the stock its 22nd biggest position.

Several other large investors have also recently modified their holdings of GM. Golden State Wealth Management LLC bought a new stake in shares of General Motors during the 4th quarter valued at $25,000. Compass Planning Associates Inc purchased a new position in General Motors during the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. increased its position in shares of General Motors by 9,960.0% during the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares during the period. Whittier Trust Co. lifted its holdings in shares of General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares in the last quarter. Finally, Measured Risk Portfolios Inc. bought a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Stock Performance

NYSE:GM opened at $47.50 on Friday. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 7.72, a PEG ratio of 0.67 and a beta of 1.34. The business has a 50 day moving average of $46.80 and a 200 day moving average of $49.38. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24.

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

General Motors Increases Dividend

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

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

Analysts Set New Price Targets

GM has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on shares of General Motors from $55.00 to $57.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday, March 27th. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a report on Monday, May 5th. Piper Sandler reiterated a "neutral" rating and issued a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $54.56.

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.

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