Providence Capital Advisors LLC boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 9.0% in the 1st quarter, Holdings Channel reports. The firm owned 28,181 shares of the auto manufacturer’s stock after buying an additional 2,332 shares during the quarter. Providence Capital Advisors LLC’s holdings in General Motors were worth $1,024,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Icon Wealth Partners LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $106,000. Cerebellum GP LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $123,000. Independence Bank of Kentucky acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $129,000. Stumpf Capital Management LLC acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $131,000. Finally, Hoertkorn Richard Charles acquired a new stake in shares of General Motors in the fourth quarter valued at approximately $135,000. 73.09% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on GM shares. TheStreet raised General Motors from a “c+” rating to a “b” rating in a research report on Friday, April 27th. Zacks Investment Research raised General Motors from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, February 14th. Bank of America raised their price objective on General Motors from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Royal Bank of Canada set a $52.00 price objective on General Motors and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Vetr cut General Motors from a “strong-buy” rating to a “buy” rating and set a $41.50 price objective for the company. in a research report on Thursday, April 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $45.43.
In other General Motors news, insider Charles K. Stevens III sold 35,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $36.10, for a total transaction of $1,263,500.00. Following the transaction, the insider now owns 67,741 shares in the company, valued at approximately $2,445,450.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Retiree Medical Benefits T. Uaw sold 40,000,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $39.71, for a total value of $1,588,400,000.00. The disclosure for this sale can be found here. 0.39% of the stock is owned by company insiders.
Shares of NYSE GM opened at $37.85 on Thursday. The company has a market cap of $53.95 billion, a PE ratio of 5.72, a PEG ratio of 1.09 and a beta of 1.61. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.73 and a current ratio of 0.86. General Motors has a 1-year low of $31.92 and a 1-year high of $46.76.
General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Thursday, April 26th. The auto manufacturer reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.19. General Motors had a positive return on equity of 23.03% and a negative net margin of 3.76%. The firm had revenue of $36.10 billion for the quarter, compared to analyst estimates of $34.67 billion. During the same quarter last year, the company earned $1.70 EPS. The company’s revenue was down 12.4% on a year-over-year basis. equities research analysts predict that General Motors will post 6.37 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Shareholders of record on Friday, June 8th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, June 7th. This represents a $1.52 dividend on an annualized basis and a yield of 4.02%. General Motors’s dividend payout ratio (DPR) is presently 22.96%.
General Motors Profile
General Motors Company, together with its subsidiaries, designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.
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