Parallel Advisors LLC Increases Stock Position in General Motors (NYSE:GM)

Parallel Advisors LLC boosted its holdings in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 51.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,589 shares of the auto manufacturer's stock after acquiring an additional 8,990 shares during the period. Parallel Advisors LLC's holdings in General Motors were worth $1,416,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GM. Claro Advisors LLC lifted its holdings in General Motors by 18.1% in the third quarter. Claro Advisors LLC now owns 9,631 shares of the auto manufacturer's stock valued at $432,000 after acquiring an additional 1,478 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of General Motors by 1.0% during the third quarter. Thrivent Financial for Lutherans now owns 52,193 shares of the auto manufacturer's stock worth $2,340,000 after buying an additional 539 shares during the period. Quest Partners LLC boosted its position in shares of General Motors by 81.0% during the third quarter. Quest Partners LLC now owns 37,516 shares of the auto manufacturer's stock worth $1,682,000 after buying an additional 16,788 shares during the period. Caprock Group LLC boosted its position in shares of General Motors by 15.3% during the third quarter. Caprock Group LLC now owns 29,402 shares of the auto manufacturer's stock worth $1,318,000 after buying an additional 3,899 shares during the period. Finally, Meeder Asset Management Inc. boosted its position in shares of General Motors by 1,167.9% during the third quarter. Meeder Asset Management Inc. now owns 12,920 shares of the auto manufacturer's stock worth $579,000 after buying an additional 11,901 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

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General Motors Stock Performance

Shares of GM traded up $0.33 during midday trading on Friday, reaching $49.77. 37,623,460 shares of the stock were exchanged, compared to its average volume of 12,866,566. The business's 50-day moving average price is $49.02 and its 200 day moving average price is $50.46. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a twelve month low of $38.96 and a twelve month high of $61.24. The company has a market capitalization of $49.53 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 0.67 and a beta of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. On average, sell-side analysts expect that General Motors will post 11.44 EPS for the current fiscal year.

General Motors declared that its board has initiated a share buyback program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to buy up to 12.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Friday, March 7th. General Motors's dividend payout ratio (DPR) is currently 7.80%.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, with a total value of $607,920.00. Following the completion of the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This represents a 700.12 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GM shares. Mizuho raised their price target on General Motors from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Morgan Stanley upgraded General Motors from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. StockNews.com lowered General Motors from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group restated a "buy" rating on shares of General Motors in a research report on Monday, February 3rd. Finally, Cowen assumed coverage on General Motors in a report on Thursday, March 6th. They issued a "buy" rating for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.06.

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.