General Motors (NYSE:GM) Shares Purchased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. increased its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 47.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,631 shares of the auto manufacturer’s stock after purchasing an additional 1,494 shares during the quarter. Geneos Wealth Management Inc.’s holdings in General Motors were worth $210,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GM. LifeSteps Financial Inc. purchased a new position in General Motors in the 1st quarter valued at about $25,000. Highlander Capital Management LLC purchased a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. boosted its stake in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after acquiring an additional 359 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of General Motors during the first quarter worth approximately $32,000. Finally, Sachetta LLC acquired a new position in General Motors in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.46, for a total value of $27,219,693.36. Following the transaction, the chief executive officer now owns 1,198,648 shares of the company’s stock, valued at $52,093,242.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total value of $27,219,693.36. Following the completion of the sale, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The disclosure for this sale can be found here. Insiders have sold 1,152,621 shares of company stock worth $51,818,111 in the last quarter. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GM shares. Royal Bank of Canada upped their price target on General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Citigroup upped their target price on General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Mizuho lifted their price target on General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Piper Sandler upped their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Finally, Sanford C. Bernstein initiated coverage on shares of General Motors in a research report on Thursday, April 25th. They set an “outperform” rating and a $55.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.96.

General Motors Stock Up 1.1 %

Shares of NYSE:GM opened at $48.45 on Friday. The firm has a 50 day simple moving average of $45.92 and a 200-day simple moving average of $42.06. General Motors has a twelve month low of $26.30 and a twelve month high of $49.35. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $55.28 billion, a PE ratio of 5.85, a P/E/G ratio of 0.49 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. On average, equities analysts predict that General Motors will post 9.43 EPS for the current fiscal year.

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

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors 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.