NewEdge Advisors LLC Buys 42,707 Shares of General Motors (NYSE:GM)

NewEdge Advisors LLC boosted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 202.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,783 shares of the auto manufacturer's stock after buying an additional 42,707 shares during the quarter. NewEdge Advisors LLC's holdings in General Motors were worth $3,398,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in General Motors during the 4th quarter valued at about $592,321,000. Amundi grew its position in General Motors by 75.5% during the fourth quarter. Amundi now owns 4,914,256 shares of the auto manufacturer's stock valued at $250,627,000 after purchasing an additional 2,113,973 shares in the last quarter. ACR Alpine Capital Research LLC increased its stake in General Motors by 39.8% in the 4th quarter. ACR Alpine Capital Research LLC now owns 7,397,404 shares of the auto manufacturer's stock valued at $394,060,000 after buying an additional 2,104,528 shares during the period. Raymond James Financial Inc. purchased a new stake in General Motors in the 4th quarter worth approximately $108,366,000. Finally, National Bank of Canada FI boosted its stake in shares of General Motors by 54.4% during the 4th quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock valued at $178,593,000 after buying an additional 1,180,936 shares during the period. 92.67% of the stock is owned by institutional investors.

General Motors Stock Performance

Shares of GM traded up $0.23 on Friday, reaching $47.11. 6,089,024 shares of the stock traded hands, compared to its average volume of 13,342,142. General Motors has a 12 month low of $38.96 and a 12 month high of $61.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The stock's 50-day moving average price is $46.89 and its 200-day moving average price is $50.30. The firm has a market cap of $46.87 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 0.67 and a beta of 1.27.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities analysts forecast that General Motors will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Friday, March 7th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.02%. General Motors's dividend payout ratio (DPR) is presently 7.80%.

General Motors declared that its Board of Directors has initiated a stock 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 buy up to 12.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GM. Cowen began coverage on General Motors in a research report on Thursday, March 6th. They set a "buy" rating for the company. JPMorgan Chase & Co. reduced their target price on shares of General Motors from $64.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Sanford C. Bernstein downgraded shares of General Motors from a "market perform" rating to an "underperform" rating and cut their price target for the company from $50.00 to $35.00 in a report on Monday, April 7th. The Goldman Sachs Group decreased their price objective on shares of General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Finally, Piper Sandler raised their target price on General Motors from $45.00 to $48.00 and gave the company a "neutral" rating in a report on Thursday, March 20th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $54.83.

Insider Buying and Selling at General Motors

In other news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the completion of the purchase, the director now owns 13,714 shares of the company's stock, valued at approximately $694,751.24. The trade was a 700.12 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.72% of the company's stock.

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.