NewEdge Advisors LLC Grows Stock Position in General Motors (NYSE:GM)

NewEdge Advisors LLC lifted its holdings in shares of General Motors (NYSE:GM - Free Report) TSE: GMM.U by 202.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 63,783 shares of the auto manufacturer's stock after acquiring an additional 42,707 shares during the period. NewEdge Advisors LLC's holdings in General Motors were worth $3,398,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of GM. Virtu Financial LLC increased its holdings in General Motors by 770.3% in the 3rd quarter. Virtu Financial LLC now owns 99,054 shares of the auto manufacturer's stock worth $4,442,000 after buying an additional 87,672 shares during the period. Te Ahumairangi Investment Management Ltd boosted its holdings in General Motors by 6.6% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 100,708 shares of the auto manufacturer's stock valued at $4,490,000 after purchasing an additional 6,200 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of General Motors during the 3rd quarter valued at about $237,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of General Motors in the third quarter worth about $1,907,000. Finally, Tidal Investments LLC grew its holdings in General Motors by 44.7% during the third quarter. Tidal Investments LLC now owns 65,389 shares of the auto manufacturer's stock worth $2,932,000 after acquiring an additional 20,206 shares during the period. Institutional investors and hedge funds own 92.67% of the company's stock.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares of the company's stock, valued at $694,751.24. The trade was a 700.12 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on GM shares. Mizuho dropped their price objective on shares of General Motors from $63.00 to $55.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company restated an "underweight" rating on shares of General Motors in a research report on Monday, February 3rd. Cowen assumed coverage on shares of General Motors in a research note on Thursday, March 6th. They set a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft downgraded General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a research report on Monday, April 14th. Finally, Piper Sandler lifted their price target on shares of General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a research note on Thursday, March 20th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $54.83.

General Motors Trading Up 0.5 %

NYSE GM traded up $0.23 on Friday, reaching $47.11. 8,103,590 shares of the company were exchanged, compared to its average volume of 13,336,585. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The stock has a market capitalization of $46.87 billion, a P/E ratio of 7.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.27. The business's fifty day moving average price is $46.87 and its 200 day moving average price is $50.30. 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 (NYSE:GM - Get Free Report) TSE: GMM.U last issued its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts forecast that General Motors will post 11.44 earnings per share for the current year.

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

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio is presently 7.80%.

General Motors 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.