Bruce G. Allen Investments LLC Has $30,000 Holdings in General Motors (NYSE:GM)

Bruce G. Allen Investments LLC lessened its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 52.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 639 shares of the auto manufacturer’s stock after selling 713 shares during the period. Bruce G. Allen Investments LLC’s holdings in General Motors were worth $30,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Susquehanna Fundamental Investments LLC bought a new stake in General Motors in the fourth quarter valued at $25,404,000. Asset Management One Co. Ltd. increased its stake in General Motors by 9.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares in the last quarter. Handelsbanken Fonder AB increased its stake in General Motors by 10.9% in the fourth quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock valued at $10,763,000 after purchasing an additional 19,924 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in General Motors in the fourth quarter valued at $394,000. Finally, Vontobel Holding Ltd. increased its stake in General Motors by 65.3% in the fourth quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer’s stock valued at $3,459,000 after purchasing an additional 25,639 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on GM shares. BNP Paribas raised shares of General Motors to a “strong-buy” rating in a research note on Monday, May 5th. Citigroup initiated coverage on shares of General Motors in a research report on Wednesday, April 23rd. They set a “buy” rating and a $62.00 target price for the company. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a research report on Monday, May 5th. Cowen initiated coverage on shares of General Motors in a research report on Thursday, March 6th. They set a “buy” rating for the company. Finally, Royal Bank of Canada boosted their price target on shares of General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.56.

General Motors Stock Performance

Shares of GM stock opened at $47.94 on Tuesday. The firm’s 50 day moving average is $46.80 and its 200 day moving average is $49.22. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38. The stock has a market capitalization of $46.09 billion, a P/E ratio of 7.79, a PEG ratio of 0.67 and a beta of 1.34. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24.

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

General Motors announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 26th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

General Motors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a $0.15 dividend. This is a positive change from General Motors’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.25%. General Motors’s dividend payout ratio is presently 8.65%.

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.