MV Capital Management Inc. Increases Stock Position in General Motors (NYSE:GM)

MV Capital Management Inc. increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,886 shares of the auto manufacturer’s stock after purchasing an additional 373 shares during the period. MV Capital Management Inc.’s holdings in General Motors were worth $136,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Integrated Advisors Network LLC bought a new position in General Motors in the first quarter valued at about $240,000. Handelsbanken Fonder AB lifted its stake in shares of General Motors by 2.1% in the 1st quarter. Handelsbanken Fonder AB now owns 206,264 shares of the auto manufacturer’s stock worth $9,701,000 after purchasing an additional 4,210 shares during the period. Curated Wealth Partners LLC boosted its holdings in shares of General Motors by 17.4% in the first quarter. Curated Wealth Partners LLC now owns 25,354 shares of the auto manufacturer’s stock worth $1,192,000 after buying an additional 3,758 shares during the last quarter. Accurate Wealth Management LLC grew its position in General Motors by 5.7% during the first quarter. Accurate Wealth Management LLC now owns 17,074 shares of the auto manufacturer’s stock valued at $745,000 after buying an additional 915 shares during the period. Finally, GAMMA Investing LLC grew its position in General Motors by 10.6% during the first quarter. GAMMA Investing LLC now owns 20,133 shares of the auto manufacturer’s stock valued at $947,000 after buying an additional 1,933 shares during the period. Institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GM shares. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research note on Monday, May 5th. Mizuho lifted their target price on General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, May 16th. Wedbush reduced their price target on General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research note on Monday, April 14th. Finally, Citigroup started coverage on General Motors in a research note on Wednesday, April 23rd. They set a “buy” rating and a $62.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, General Motors has a consensus rating of “Hold” and an average target price of $54.56.

General Motors Stock Up 1.9%

Shares of NYSE GM opened at $49.84 on Thursday. 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 has a 12-month low of $38.96 and a 12-month high of $61.24. The firm’s 50-day moving average price is $46.97 and its 200-day moving average price is $49.23. The stock has a market capitalization of $47.92 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 0.67 and a beta of 1.34.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.62 earnings per share. On average, equities research analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be paid a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. This is an increase from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio is currently 8.65%.

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

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.