Proficio Capital Partners LLC Boosts Holdings in General Motors (NYSE:GM)

Proficio Capital Partners LLC increased its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,025 shares of the auto manufacturer’s stock after buying an additional 375 shares during the period. Proficio Capital Partners LLC’s holdings in General Motors were worth $409,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GM. LifeSteps Financial Inc. purchased a new position in General Motors in the first quarter worth approximately $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of General Motors in the 1st quarter valued at $32,000. Highlander Capital Management LLC purchased a new stake in shares of General Motors during the 4th quarter worth $27,000. Riverview Trust Co purchased a new stake in shares of General Motors during the 1st quarter worth $38,000. Finally, Cape Investment Advisory Inc. grew its stake in shares of General Motors by 75.9% during the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock worth $30,000 after purchasing an additional 359 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Performance

Shares of GM stock traded up $0.18 during midday trading on Wednesday, hitting $46.44. The company had a trading volume of 1,051,024 shares, compared to its average volume of 15,784,308. The stock has a market cap of $52.99 billion, a price-to-earnings ratio of 5.68, a PEG ratio of 0.49 and a beta of 1.43. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The company’s 50 day simple moving average is $45.82 and its 200 day simple moving average is $41.98. General Motors has a 52-week low of $26.30 and a 52-week high of $49.35.

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

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Friday, June 7th were given a $0.12 dividend. The ex-dividend date was Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.03%. General Motors’s payout ratio is currently 5.87%.

General Motors declared that its board has authorized a stock buyback plan on Tuesday, June 11th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the auto manufacturer to repurchase up to 10.8% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

GM has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price target on General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Bank of America restated a “buy” rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Barclays increased their price target on shares of General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wedbush boosted their price objective on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Finally, Citigroup upped their target price on shares of General Motors from $95.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus target price of $55.96.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 14,858 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the completion of the transaction, the president now directly owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other General Motors news, President Mark L. Reuss sold 150,000 shares of the business’s stock in a transaction 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 sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the transaction, the president now owns 162,049 shares of the company’s stock, valued at approximately $7,455,874.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is owned by corporate insiders.

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.