Virtus ETF Advisers LLC Takes Position in General Motors (NYSE:GM)

Virtus ETF Advisers LLC bought a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 21,822 shares of the auto manufacturer’s stock, valued at approximately $1,162,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Coldstream Capital Management Inc. grew its stake in shares of General Motors by 2.1% in the fourth quarter. Coldstream Capital Management Inc. now owns 20,305 shares of the auto manufacturer’s stock valued at $1,082,000 after buying an additional 420 shares in the last quarter. Nebula Research & Development LLC grew its position in shares of General Motors by 151.1% in the 4th quarter. Nebula Research & Development LLC now owns 70,035 shares of the auto manufacturer’s stock valued at $3,731,000 after acquiring an additional 42,145 shares during the period. Hancock Whitney Corp acquired a new position in shares of General Motors during the 4th quarter worth about $5,646,000. Integrated Wealth Concepts LLC raised its holdings in shares of General Motors by 16.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 23,656 shares of the auto manufacturer’s stock valued at $1,260,000 after purchasing an additional 3,336 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its stake in General Motors by 13.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,027,386 shares of the auto manufacturer’s stock valued at $54,729,000 after purchasing an additional 118,000 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now owns 13,714 shares of the company’s stock, valued at $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Sanford C. Bernstein lowered General Motors from a “market perform” rating to an “underperform” rating and dropped their price objective for the company from $50.00 to $35.00 in a research note on Monday, April 7th. UBS Group restated a “neutral” rating and issued a $51.00 price target (down previously from $64.00) on shares of General Motors in a research note on Thursday, April 10th. Mizuho reduced their price objective on shares of General Motors from $63.00 to $55.00 and set an “outperform” rating for the company in a research report on Thursday, April 10th. Piper Sandler increased their price objective on shares of General Motors from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, March 20th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a report on Monday, February 3rd. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.83.

General Motors Stock Performance

NYSE:GM opened at $47.11 on Friday. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24. The company has a market cap of $46.87 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 0.67 and a beta of 1.27. The stock has a fifty day moving average price of $46.87 and a 200-day moving average price of $50.30.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. As a group, equities analysts anticipate that General Motors will post 11.44 EPS for the current fiscal year.

General Motors announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were paid a $0.12 dividend. The ex-dividend date was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. General Motors’s dividend payout ratio (DPR) is 7.80%.

General Motors 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.