Tidal Investments LLC Purchases 9,201 Shares of General Motors (NYSE:GM)

Tidal Investments LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,590 shares of the auto manufacturer’s stock after purchasing an additional 9,201 shares during the period. Tidal Investments LLC’s holdings in General Motors were worth $3,973,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in General Motors during the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new stake in shares of General Motors during the 4th quarter worth approximately $26,000. Compass Planning Associates Inc purchased a new stake in shares of General Motors during the 4th quarter worth approximately $27,000. Duncker Streett & Co. Inc. increased its stake in shares of General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 498 shares during the last quarter. Finally, Whittier Trust Co. increased its stake in shares of General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock worth $27,000 after purchasing an additional 425 shares during the last quarter. 92.67% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GM shares. JPMorgan Chase & Co. decreased 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 note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research note on Monday, April 14th. TD Cowen started coverage on shares of General Motors in a research note on Friday, March 7th. They set a “buy” rating and a $105.00 price target for the company. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. Finally, Citigroup started coverage on shares of General Motors in a research note on Wednesday, April 23rd. They set a “buy” rating and a $62.00 price target for the company. Four analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.56.

General Motors Stock Up 0.3%

GM opened at $50.20 on Wednesday. The company has a 50 day moving average of $46.95 and a 200 day moving average of $50.00. The company has a market cap of $48.26 billion, a PE ratio of 8.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. 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) (TSE:GMM.U) last released its quarterly 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. The firm had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.62 EPS. On average, sell-side analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be given a dividend of $0.15 per share. 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 dividend yield of 1.20%. The ex-dividend date is Friday, June 6th. General Motors’s payout ratio is 8.65%.

General Motors declared that its board has approved a share repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.