Mercer Global Advisors Inc. ADV bought a new stake in General Motors (NYSE:GM) (TSE:GMM.U) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 24,983 shares of the auto manufacturer’s stock, valued at approximately $836,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Signet Investment Advisory Group Inc. acquired a new stake in General Motors during the fourth quarter worth $26,000. Cornerstone Advisors Inc. increased its stake in General Motors by 63.0% during the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 346 shares during the last quarter. NuWave Investment Management LLC increased its stake in General Motors by 198.6% during the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 588 shares during the last quarter. Liberty Wealth Management LLC acquired a new stake in General Motors during the fourth quarter worth $30,000. Finally, Advisors Preferred LLC acquired a new stake in General Motors during the fourth quarter worth $31,000. Institutional investors and hedge funds own 77.58% of the company’s stock.
Several equities research analysts have issued reports on the company. Zacks Investment Research cut General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Goldman Sachs Group reissued a “neutral” rating and set a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Seaport Global Securities assumed coverage on General Motors in a research note on Wednesday, February 13th. They set a “buy” rating for the company. Citigroup raised their target price on General Motors to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 8th. Finally, Royal Bank of Canada raised their target price on General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. General Motors currently has an average rating of “Buy” and an average price target of $47.20.
In other news, insider Alan S. Batey sold 70,266 shares of General Motors stock in a transaction on Monday, February 11th. The stock was sold at an average price of $38.39, for a total value of $2,697,511.74. Following the completion of the sale, the insider now directly owns 205,906 shares of the company’s stock, valued at $7,904,731.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher Hatto sold 8,499 shares of General Motors stock in a transaction on Monday, March 4th. The shares were sold at an average price of $40.00, for a total value of $339,960.00. Following the completion of the sale, the vice president now directly owns 10,040 shares of the company’s stock, valued at $401,600. The disclosure for this sale can be found here. Insiders sold 113,521 shares of company stock valued at $4,337,346 over the last ninety days. Insiders own 0.39% of the company’s stock.
Shares of NYSE GM opened at $39.66 on Wednesday. General Motors has a twelve month low of $30.56 and a twelve month high of $45.00. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $55.77 billion, a PE ratio of 6.06, a PEG ratio of 0.69 and a beta of 1.27.
General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Wednesday, February 6th. The auto manufacturer reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.22. General Motors had a return on equity of 23.99% and a net margin of 5.45%. The business had revenue of $38.40 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. As a group, research analysts anticipate that General Motors will post 6.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Friday, March 8th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. General Motors’s payout ratio is presently 23.24%.
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General Motors Company Profile
General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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