Riverview Trust Co Invests $38,000 in General Motors (NYSE:GM)

Riverview Trust Co purchased a new stake in General Motors (NYSE:GM) (TSE:GMM.U) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 830 shares of the auto manufacturer’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GM. Highlander Capital Management LLC bought a new stake in shares of General Motors in the 4th quarter worth about $27,000. Cape Investment Advisory Inc. grew its position in 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 acquiring an additional 359 shares during the last quarter. Sachetta LLC purchased a new stake in General Motors in the fourth quarter worth $33,000. Bfsg LLC bought a new stake in shares of General Motors during the fourth quarter worth $35,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in General Motors in the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In related news, EVP Gerald Johnson sold 27,122 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were 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 directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Christopher Hatto sold 3,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gerald Johnson sold 27,122 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the transaction, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,183,243 shares of company stock worth $53,203,153. 0.72% of the stock is owned by corporate insiders.

General Motors Stock Performance

GM traded down $1.60 during trading on Tuesday, reaching $46.51. 5,696,974 shares of the company’s stock were exchanged, compared to its average volume of 16,167,336. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. General Motors has a 1 year low of $26.30 and a 1 year high of $49.35. The company’s fifty day simple moving average is $45.31 and its 200-day simple moving average is $41.11. The stock has a market capitalization of $53.07 billion, a P/E ratio of 5.83, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. The firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.21 earnings per share. As a group, research analysts predict that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors announced that its board has approved a share repurchase program on Tuesday, June 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the auto manufacturer to reacquire up to 10.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised 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. Piper Sandler lifted their price objective on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their price objective on shares of General Motors from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Tuesday. TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. Finally, 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 note on Wednesday, April 24th. One equities 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $54.91.

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.