MV Capital Management Inc. Acquires 287 Shares of General Motors (NYSE:GM)

MV Capital Management Inc. raised its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 35.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,101 shares of the auto manufacturer’s stock after acquiring an additional 287 shares during the quarter. MV Capital Management Inc.’s holdings in General Motors were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Highlander Capital Management LLC bought a new stake in General Motors during the fourth quarter valued at about $27,000. Cape Investment Advisory Inc. grew its stake in shares of General Motors by 75.9% during the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares during the period. Sachetta LLC purchased a new stake in General Motors in the 4th quarter worth approximately $33,000. Bfsg LLC purchased a new stake in General Motors in the 4th quarter worth approximately $35,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in General Motors during the 4th quarter worth approximately $36,000. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of General Motors from $44.00 to $50.00 and gave the stock a “hold” rating in a research note on Tuesday, April 23rd. Wedbush boosted their price objective on General Motors from $45.00 to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Sanford C. Bernstein started coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price on the stock. UBS Group boosted their price target on General Motors from $58.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Wells Fargo & Company increased their price objective on shares of General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and an average price target of $54.91.

Insider Activity

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the sale, the president now owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total value of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Mark L. Reuss sold 14,858 shares of General Motors stock in a transaction on Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the sale, the president now owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is currently owned by company insiders.

General Motors Trading Up 0.6 %

GM opened at $46.94 on Wednesday. The stock has a 50-day moving average of $45.67 and a 200 day moving average of $41.53. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The firm has a market cap of $53.56 billion, a P/E ratio of 5.74, a P/E/G ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The company’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.21 EPS. As a group, research analysts forecast that General Motors will post 9.43 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Friday, June 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

General Motors declared that its Board of Directors has approved a share buyback program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

General Motors Company 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.