Wedmont Private Capital Acquires 619 Shares of General Motors (NYSE:GM)

Wedmont Private Capital lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,557 shares of the auto manufacturer’s stock after acquiring an additional 619 shares during the quarter. Wedmont Private Capital’s holdings in General Motors were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of GM. Norges Bank bought a new position in shares of General Motors in the 4th quarter worth about $602,280,000. Hotchkis & Wiley Capital Management LLC increased its holdings in General Motors by 21.9% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares in the last quarter. Putnam Investments LLC increased its holdings in General Motors by 16.8% during the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares in the last quarter. AQR Capital Management LLC increased its holdings in General Motors by 32.6% during the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado increased its holdings in General Motors by 1,213.0% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GM. Morgan Stanley boosted their price objective on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a report on Tuesday, April 23rd. Mizuho boosted their price objective on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Sanford C. Bernstein started coverage on General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price on the stock. Finally, Bank of America restated a “buy” rating and issued a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $54.81.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other General Motors news, CEO Mary T. Barra sold 326,305 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $48.33, for a total transaction of $15,770,320.65. Following the sale, the chief executive officer now owns 898,648 shares in the company, valued at $43,431,657.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 12,007 shares in the company, valued at approximately $540,315. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,243 shares of company stock worth $53,203,153 over the last 90 days. Corporate insiders own 0.72% of the company’s stock.

General Motors Price Performance

General Motors stock opened at $47.72 on Friday. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The business’s 50 day simple moving average is $45.20 and its 200 day simple moving average is $40.95. The company has a market cap of $54.45 billion, a price-to-earnings ratio of 5.83, a PEG ratio of 0.55 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating the consensus estimate of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. General Motors’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that General Motors will post 9.44 EPS for the current year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.01%. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its board has authorized a stock repurchase program on Tuesday, June 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to buy up to 10.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

General Motors Company 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.