XML Financial LLC lowered its stake in General Motors Company (NYSE:GM – Free Report) (TSE:GMM.U) by 22.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,432 shares of the auto manufacturer’s stock after selling 5,148 shares during the quarter. XML Financial LLC’s holdings in General Motors were worth $820,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GM. Palumbo Wealth Management LLC boosted its holdings in shares of General Motors by 6.6% during the first quarter. Palumbo Wealth Management LLC now owns 5,947 shares of the auto manufacturer’s stock worth $280,000 after purchasing an additional 366 shares during the period. Cassia Capital Partners LLC raised its position in General Motors by 63.0% during the 1st quarter. Cassia Capital Partners LLC now owns 18,683 shares of the auto manufacturer’s stock valued at $879,000 after purchasing an additional 7,221 shares during the last quarter. Intact Investment Management Inc. purchased a new stake in General Motors in the 1st quarter worth approximately $4,952,000. Nilsine Partners LLC increased its stake in shares of General Motors by 1.3% during the first quarter. Nilsine Partners LLC now owns 24,806 shares of the auto manufacturer’s stock valued at $1,167,000 after buying an additional 321 shares during the period. Finally, Register Financial Advisors LLC raised its holdings in shares of General Motors by 12.2% during the first quarter. Register Financial Advisors LLC now owns 17,352 shares of the auto manufacturer’s stock valued at $816,000 after acquiring an additional 1,883 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
General Motors Stock Performance
Shares of General Motors stock opened at $48.56 on Tuesday. General Motors Company has a 1 year low of $38.96 and a 1 year high of $61.24. The firm’s 50-day moving average is $47.69 and its 200 day moving average is $48.78. The stock has a market cap of $46.69 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.29 and a beta of 1.34. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.21 and a quick ratio of 1.04.
General Motors announced that its board has approved a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
General Motors Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Friday, June 6th were given a $0.15 dividend. The ex-dividend date was Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 1.24%. General Motors’s dividend payout ratio is 8.65%.
Wall Street Analyst Weigh In
GM has been the topic of several recent analyst reports. Mizuho lifted their price target on shares of General Motors from $53.00 to $58.00 and gave the company an “outperform” rating in a report on Friday, May 16th. The Goldman Sachs Group cut their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Barclays increased their price target on shares of General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. TD Cowen began coverage on shares of General Motors in a report on Friday, March 7th. They issued a “buy” rating and a $105.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft downgraded General Motors from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Monday, April 14th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $53.35.
Check Out Our Latest Stock Analysis on General Motors
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.
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