AlTi Global Inc. Has $3.13 Million Stock Position in General Motors (NYSE:GM)

AlTi Global Inc. lessened its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,655 shares of the auto manufacturer’s stock after selling 1,127 shares during the quarter. AlTi Global Inc.’s holdings in General Motors were worth $3,125,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Albar Capital Partners LLP bought a new position in shares of General Motors in the 4th quarter valued at about $30,967,000. 4WEALTH Advisors Inc. acquired a new position in General Motors in the fourth quarter valued at approximately $346,000. South Plains Financial Inc. bought a new position in General Motors in the fourth quarter valued at approximately $232,000. Rehmann Capital Advisory Group acquired a new stake in General Motors during the 4th quarter worth $218,000. Finally, Schonfeld Strategic Advisors LLC raised its position in shares of General Motors by 202.4% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 723,139 shares of the auto manufacturer’s stock valued at $38,522,000 after acquiring an additional 483,987 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Trading Up 0.5 %

NYSE GM opened at $45.27 on Friday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The stock’s 50 day moving average price is $46.76 and its two-hundred day moving average price is $50.23. The stock has a market capitalization of $43.74 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 EPS for the quarter, topping the consensus estimate of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The business had revenue of $44.02 billion during the quarter, compared to analysts’ expectations of $42.64 billion. During the same quarter in the prior year, the company posted $2.62 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, analysts anticipate that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. The ex-dividend date is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is currently 7.80%.

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

Analyst Ratings Changes

GM has been the topic of several recent research reports. Piper Sandler raised their price target on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Wedbush decreased their target price on General Motors from $60.00 to $55.00 and set an “outperform” rating for the company in a research report on Friday. Sanford C. Bernstein cut General Motors from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $50.00 to $35.00 in a research note on Monday, April 7th. Deutsche Bank Aktiengesellschaft cut shares of General Motors from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Monday, April 14th. Finally, StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.94.

About General Motors

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.