Rakuten Securities Inc. Buys New Stake in General Motors (NYSE:GM)

Rakuten Securities Inc. acquired a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,125 shares of the auto manufacturer’s stock, valued at approximately $76,000.

Several other hedge funds also recently made changes to their positions in the company. Weik Capital Management raised its position in General Motors by 3.1% in the 1st quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after purchasing an additional 275 shares during the last quarter. RFG Advisory LLC increased its stake in General Motors by 5.4% in the fourth quarter. RFG Advisory LLC now owns 5,520 shares of the auto manufacturer’s stock valued at $227,000 after purchasing an additional 281 shares during the period. Penserra Capital Management LLC raised its holdings in shares of General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 283 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of General Motors by 2.4% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock worth $557,000 after buying an additional 294 shares during the period. Finally, Pacifica Partners Inc. grew its holdings in shares of General Motors by 10.1% during the fourth quarter. Pacifica Partners Inc. now owns 3,288 shares of the auto manufacturer’s stock worth $107,000 after buying an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity

In related news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the completion of the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total value of $1,227,541.72. Following the completion of the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,248 shares of company stock valued at $3,614,078. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GM. Redburn Atlantic began coverage on General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective for the company. Wells Fargo & Company increased their price target on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a report on Wednesday, January 31st. Tigress Financial boosted their price objective on shares of General Motors from $86.00 to $88.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 15th. Piper Sandler started coverage on shares of General Motors in a research note on Friday, March 15th. They issued a “neutral” rating and a $44.00 target price for the company. Finally, Royal Bank of Canada boosted their price target on shares of General Motors from $52.00 to $54.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.57.

General Motors Stock Down 0.5 %

GM opened at $42.46 on Thursday. The business’s fifty day moving average is $41.50 and its two-hundred day moving average is $35.68. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The company has a market cap of $49.02 billion, a price-to-earnings ratio of 5.81, a PEG ratio of 0.52 and a beta of 1.51. General Motors has a one year low of $26.30 and a one year high of $46.04.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 30th. The auto manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.16 by $0.08. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The firm had revenue of $42.98 billion during the quarter, compared to analyst estimates of $38.81 billion. During the same period in the prior year, the firm posted $2.12 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. Analysts anticipate that General Motors will post 9.08 EPS for the current fiscal year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Friday, March 1st were given a $0.12 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.48 annualized dividend and a dividend yield of 1.13%. This is a positive change from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio is presently 6.57%.

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.