Mission Wealth Management LP Acquires Shares of 5,776 General Motors (NYSE:GM)

Mission Wealth Management LP bought a new stake in General Motors (NYSE:GMFree Report) (TSE:GMM.U) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,776 shares of the auto manufacturer’s stock, valued at approximately $262,000.

Other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado boosted its position in General Motors by 1,213.0% during the fourth 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 during the period. Handelsbanken Fonder AB grew its stake in General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock valued at $17,064,000 after buying an additional 74,194 shares in the last quarter. US Bancorp DE raised its holdings in General Motors by 59.3% during the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock valued at $3,121,000 after acquiring an additional 32,331 shares during the period. GSA Capital Partners LLP lifted its position in shares of General Motors by 317.6% during the fourth quarter. GSA Capital Partners LLP now owns 67,807 shares of the auto manufacturer’s stock worth $2,436,000 after acquiring an additional 51,571 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after acquiring an additional 93,754 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup increased their price objective on General Motors from $95.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. UBS Group raised their price objective on shares of General Motors from $58.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Wedbush upped their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Morgan Stanley raised their price target on shares of General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $54.91.

Get Our Latest Report on General Motors

Insiders Place Their Bets

In other news, CEO Mary T. Barra sold 626,316 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Mary T. Barra sold 626,316 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the sale, the chief executive officer now directly owns 1,198,648 shares in the company, valued at approximately $52,093,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 326,305 shares of the firm’s 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 completion of the sale, the chief executive officer now directly owns 898,648 shares in the company, valued at approximately $43,431,657.84. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock valued at $51,818,111 in the last ninety days. Company insiders own 0.72% of the company’s stock.

General Motors Stock Down 0.4 %

Shares of NYSE GM opened at $46.52 on Friday. The stock has a market capitalization of $53.08 billion, a P/E ratio of 5.69, a PEG ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a one year low of $26.30 and a one year high of $49.35. The firm’s 50 day simple moving average is $45.77 and its two-hundred day simple moving average is $41.80.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. During the same quarter last year, the company earned $2.21 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, analysts expect that General Motors will post 9.43 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors 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 yield of 1.03%. General Motors’s payout ratio is 5.87%.

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

General Motors Profile

(Free Report)

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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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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