Wealth Enhancement Advisory Services LLC Raises Stock Position in General Motors Company (NYSE:GM)

Wealth Enhancement Advisory Services LLC lifted its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 107.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 155,554 shares of the auto manufacturer's stock after buying an additional 80,734 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in General Motors were worth $7,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GM. Susquehanna Fundamental Investments LLC acquired a new stake in General Motors during the 4th quarter valued at approximately $25,404,000. Olstein Capital Management L.P. lifted its stake in General Motors by 18.0% during the 1st quarter. Olstein Capital Management L.P. now owns 144,000 shares of the auto manufacturer's stock valued at $6,772,000 after acquiring an additional 22,000 shares during the period. Longbow Finance SA acquired a new stake in General Motors during the 4th quarter valued at approximately $5,865,000. Catalyst Funds Management Pty Ltd lifted its stake in General Motors by 154.8% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 23,700 shares of the auto manufacturer's stock valued at $1,262,000 after acquiring an additional 14,400 shares during the period. Finally, Portside Wealth Group LLC acquired a new stake in General Motors during the 1st quarter valued at approximately $293,000. Hedge funds and other institutional investors own 92.67% of the company's stock.

General Motors Trading Up 1.0%

Shares of GM stock opened at $49.02 on Wednesday. The company's 50-day moving average price is $47.78 and its 200-day moving average price is $48.78. General Motors Company has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a current ratio of 1.21, a quick ratio of 1.04 and a debt-to-equity ratio of 1.46. The stock has a market cap of $47.12 billion, a price-to-earnings ratio of 7.06, a PEG ratio of 1.30 and a beta of 1.34.

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, beating analysts' consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.08% and a return on equity of 14.30%. The company had revenue of $44.02 billion for the quarter, compared to analysts' expectations of $42.64 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. General Motors's revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Friday, June 6th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 6th. This is a positive change from General Motors's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 1.22%. General Motors's dividend payout ratio is 8.65%.

General Motors announced that its Board of Directors has initiated a share buyback 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 repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank Of Canada lifted their price objective on shares of General Motors from $55.00 to $57.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Barclays lifted their target price 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. Cowen assumed coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating for the company. Piper Sandler reaffirmed a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Finally, The Goldman Sachs Group cut their target price on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Four analysts have rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $53.35.

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.

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