Avanza Fonder AB Cuts Stock Position in General Motors (NYSE:GM)

Avanza Fonder AB decreased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 13.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 96,584 shares of the auto manufacturer’s stock after selling 14,778 shares during the quarter. Avanza Fonder AB’s holdings in General Motors were worth $4,634,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in shares of General Motors in the 4th quarter valued at about $25,000. Measured Risk Portfolios Inc. purchased a new position in General Motors during the fourth quarter worth $27,000. Compass Planning Associates Inc acquired a new stake in shares of General Motors during the fourth quarter worth $27,000. Whittier Trust Co. boosted its holdings in General Motors by 551.9% in the fourth quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 425 shares during the last quarter. Finally, Duncker Streett & Co. Inc. boosted its holdings in General Motors by 9,960.0% in the fourth quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer’s stock valued at $27,000 after acquiring an additional 498 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GM shares. BNP Paribas upgraded General Motors to a “strong-buy” rating in a research note on Monday, May 5th. Mizuho increased their target price on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Cowen initiated coverage on General Motors in a report on Thursday, March 6th. They set a “buy” rating on the stock. Royal Bank of Canada increased their price target on General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group lowered their target price on General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors presently has an average rating of “Hold” and an average price target of $54.56.

General Motors Stock Performance

GM opened at $48.91 on Wednesday. The firm has a market cap of $47.02 billion, a PE ratio of 7.95, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The business has a fifty day simple moving average of $46.86 and a 200-day simple moving average of $49.22. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. The business had revenue of $44.02 billion for the quarter, compared to the consensus estimate of $42.64 billion. General Motors had a return on equity of 15.29% and a net margin of 3.21%. General Motors’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.62 earnings per share. As a group, equities analysts predict 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 program on Wednesday, February 26th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

General Motors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. This is a boost 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 yield of 1.23%. General Motors’s dividend payout ratio (DPR) 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.