KMG Fiduciary Partners LLC Acquires 4,903 Shares of General Motors (NYSE:GM)

KMG Fiduciary Partners LLC lifted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.5% in the first quarter, Holdings Channel.com reports. The fund owned 69,917 shares of the auto manufacturer’s stock after purchasing an additional 4,903 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in General Motors were worth $3,288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GM. Golden State Wealth Management LLC bought a new position in shares of General Motors during the 4th quarter worth about $25,000. Compass Planning Associates Inc bought a new position in General Motors during the 4th quarter valued at about $27,000. Duncker Streett & Co. Inc. lifted its holdings in General Motors by 9,960.0% during the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 498 shares during the last quarter. Whittier Trust Co. lifted its holdings in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after purchasing an additional 425 shares during the last quarter. Finally, Measured Risk Portfolios Inc. bought a new position in General Motors during the 4th quarter valued at about $27,000. 92.67% of the stock is owned by institutional investors.

General Motors Trading Up 0.5%

Shares of NYSE GM opened at $47.50 on Friday. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a market cap of $45.67 billion, a PE ratio of 7.72, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The company has a 50-day moving average of $46.80 and a two-hundred day moving average of $49.34.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The company had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. During the same quarter in the previous year, the company earned $2.62 EPS. General Motors’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts expect that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

General Motors Increases Dividend

The firm 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 boost from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. General Motors’s payout ratio is currently 8.65%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GM shares. The Goldman Sachs Group cut their price target 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. Citigroup started coverage on shares of General Motors in a report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 price target for the company. Royal Bank of Canada lifted their price target on shares of General Motors from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. UBS Group cut their price target on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Finally, Piper Sandler reissued a “neutral” rating and set a $48.00 price target (up from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, General Motors has a consensus rating of “Hold” and a consensus price target of $54.56.

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.