MV Capital Management Inc. Raises Stock Holdings in General Motors (NYSE:GM)

MV Capital Management Inc. boosted its position in General Motors (NYSE:GM) (TSE:GMM.U) by 35.3% in the 1st quarter, HoldingsChannel reports. The firm owned 1,101 shares of the auto manufacturer’s stock after purchasing an additional 287 shares during the period. MV Capital Management Inc.’s holdings in General Motors were worth $50,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Highlander Capital Management LLC acquired a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. raised its holdings in General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the last quarter. Sachetta LLC purchased a new position in shares of General Motors during the 4th quarter worth $33,000. Bfsg LLC acquired a new stake in shares of General Motors during the fourth quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of General Motors in the fourth quarter valued at $36,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the topic of several recent analyst reports. Royal Bank of Canada increased their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Wells Fargo & Company increased their price target on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 25th. Barclays lifted their target price on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Sanford C. Bernstein initiated coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Citigroup raised their price objective on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.91.

General Motors Price Performance

GM opened at $46.94 on Wednesday. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. The firm has a market cap of $53.56 billion, a price-to-earnings ratio of 5.74, a PEG ratio of 0.49 and a beta of 1.43. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The company has a fifty day simple moving average of $45.67 and a 200 day simple moving average of $41.53.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the business posted $2.21 earnings per share. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts expect that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 annualized dividend and a yield of 1.02%. General Motors’s dividend payout ratio is presently 5.87%.

General Motors declared that its board has initiated a share buyback plan on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other General Motors news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 326,305 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares of the company’s stock, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

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.