General Motors (NYSE:GM) Shares Purchased by Cetera Advisors LLC

Cetera Advisors LLC boosted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 233.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 177,567 shares of the auto manufacturer’s stock after buying an additional 124,276 shares during the quarter. Cetera Advisors LLC’s holdings in General Motors were worth $8,053,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. LifeSteps Financial Inc. purchased a new stake in shares of General Motors during the 1st quarter worth about $25,000. Montag A & Associates Inc. purchased a new position in General Motors during the first quarter worth approximately $30,000. YHB Investment Advisors Inc. purchased a new stake in shares of General Motors in the first quarter valued at approximately $32,000. LRI Investments LLC purchased a new stake in shares of General Motors in the first quarter valued at approximately $34,000. Finally, Highlander Capital Management LLC acquired a new stake in General Motors in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wedbush restated an “outperform” rating and set a $55.00 price objective on shares of General Motors in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Morgan Stanley cut General Motors from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $46.00 to $47.00 in a report on Wednesday, July 24th. Citigroup lifted their price target on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Finally, Piper Sandler increased their price objective on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $56.38.

General Motors Stock Down 5.1 %

Shares of GM opened at $41.17 on Friday. General Motors has a 12-month low of $26.30 and a 12-month high of $50.50. The firm has a market cap of $46.97 billion, a P/E ratio of 5.03, a price-to-earnings-growth ratio of 0.44 and a beta of 1.43. The company’s 50-day moving average price is $46.40 and its 200 day moving average price is $43.28. The company has a current ratio of 1.18, a quick ratio of 0.99 and a debt-to-equity ratio of 1.23.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.39. General Motors had a net margin of 6.22% and a return on equity of 15.77%. The firm had revenue of $47.97 billion during the quarter, compared to the consensus estimate of $45.13 billion. During the same quarter last year, the firm earned $1.91 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, sell-side analysts forecast that General Motors will post 9.94 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.48 dividend on an annualized basis and a yield of 1.17%. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors announced that its board has authorized a share buyback plan on Tuesday, June 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to purchase up to 10.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the sale, the president now directly owns 162,049 shares in the company, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by corporate insiders.

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.