General Motors (NYSE:GM) Shares Bought by Register Financial Advisors LLC

Register Financial Advisors LLC boosted its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 5.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,640 shares of the auto manufacturer’s stock after acquiring an additional 812 shares during the quarter. Register Financial Advisors LLC’s holdings in General Motors were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Highlander Capital Management LLC acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $27,000. Cape Investment Advisory Inc. lifted its holdings in shares of General Motors by 75.9% in the 4th quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after buying an additional 359 shares during the period. Sachetta LLC acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $33,000. Bfsg LLC acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $35,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of General Motors in the 4th quarter valued at approximately $36,000. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 1.9 %

Shares of GM traded up $0.87 during midday trading on Friday, reaching $46.45. 15,020,188 shares of the company were exchanged, compared to its average volume of 16,183,494. General Motors has a 1-year low of $26.30 and a 1-year high of $49.35. The company has a market cap of $52.99 billion, a price-to-earnings ratio of 5.68, a P/E/G ratio of 0.48 and a beta of 1.46. 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 stock has a 50-day moving average price of $45.60 and a 200-day moving average price of $41.35.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business had revenue of $43.01 billion for the quarter, compared to analyst estimates of $41.09 billion. During the same period in the previous year, the company earned $2.21 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts expect that General Motors will post 9.43 earnings per share for the current 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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.03%. The ex-dividend date was Friday, June 7th. General Motors’s dividend payout ratio is currently 5.87%.

General Motors declared that its Board of Directors has initiated a stock buyback program 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 programs are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Sanford C. Bernstein assumed coverage on General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective for the company. Barclays raised their price objective on General Motors from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price objective on General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday. Bank of America reissued a “buy” rating and set a $75.00 price target on shares of General Motors in a research report on Wednesday, June 12th. Finally, Piper Sandler raised their price target on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.91.

Insider Activity at General Motors

In related news, President Mark L. Reuss sold 14,858 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total value of $683,616.58. Following the completion of the sale, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Mary T. Barra sold 626,316 shares of the company’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 transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 14,858 shares of the company’s stock in a transaction that occurred 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 transaction, the president now directly owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. Insiders sold a total of 1,152,621 shares of company stock valued at $51,818,111 over the last three months. 0.72% of the stock is owned by insiders.

About General Motors

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.