Cetera Advisors LLC Buys 124,276 Shares of General Motors (NYSE:GM)

Cetera Advisors LLC grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 233.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,567 shares of the auto manufacturer’s stock after purchasing an additional 124,276 shares during the quarter. Cetera Advisors LLC’s holdings in General Motors were worth $8,053,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Unison Advisors LLC lifted its holdings in General Motors by 0.4% in the first quarter. Unison Advisors LLC now owns 67,196 shares of the auto manufacturer’s stock worth $3,047,000 after buying an additional 246 shares during the period. Janiczek Wealth Management LLC lifted its stake in shares of General Motors by 5.2% in the 1st quarter. Janiczek Wealth Management LLC now owns 5,063 shares of the auto manufacturer’s stock valued at $230,000 after purchasing an additional 248 shares during the period. SkyOak Wealth LLC boosted its position in shares of General Motors by 3.0% during the first quarter. SkyOak Wealth LLC now owns 8,727 shares of the auto manufacturer’s stock valued at $396,000 after purchasing an additional 252 shares in the last quarter. Bell Investment Advisors Inc grew its stake in General Motors by 39.7% in the first quarter. Bell Investment Advisors Inc now owns 897 shares of the auto manufacturer’s stock worth $41,000 after purchasing an additional 255 shares during the period. Finally, Turtle Creek Wealth Advisors LLC raised its holdings in General Motors by 2.2% in the first quarter. Turtle Creek Wealth Advisors LLC now owns 12,013 shares of the auto manufacturer’s stock worth $545,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GM. Royal Bank of Canada upped their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 23rd. Bank of America reaffirmed a “buy” rating and set a $75.00 target price on shares of General Motors in a research note on Wednesday, June 12th. Morgan Stanley downgraded General Motors from an “overweight” rating to an “equal weight” rating and upped their price target for the stock from $46.00 to $47.00 in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Finally, Sanford C. Bernstein initiated coverage on General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $56.38.

General Motors Stock Down 5.1 %

Shares of GM stock opened at $41.17 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.18 and a quick ratio of 0.99. General Motors has a one year low of $26.30 and a one year high of $50.50. The company’s fifty day moving average price is $46.40 and its 200-day moving average price is $43.28. The company has a market capitalization of $46.97 billion, a price-to-earnings ratio of 5.03, a PEG ratio of 0.44 and a beta of 1.43.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, July 23rd. The auto manufacturer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.39. The business had revenue of $47.97 billion for the quarter, compared to analysts’ expectations of $45.13 billion. General Motors had a return on equity of 15.77% and a net margin of 6.22%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.91 earnings per share. Sell-side analysts expect that General Motors will post 9.94 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, September 6th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, September 6th. General Motors’s dividend payout ratio (DPR) is presently 5.87%.

General Motors declared that its Board of Directors has approved a share buyback program on Tuesday, June 11th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 10.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were 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 owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mary T. Barra sold 626,316 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 1,198,648 shares in the company, valued at $52,093,242.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the transaction, the president now owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,152,621 shares of company stock worth $51,818,111. 0.72% of the stock is owned by 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.