Kingswood Wealth Advisors LLC Buys 9,779 Shares of General Motors (NYSE:GM)

Kingswood Wealth Advisors LLC increased its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 38.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 35,440 shares of the auto manufacturer’s stock after acquiring an additional 9,779 shares during the period. Kingswood Wealth Advisors LLC’s holdings in General Motors were worth $1,607,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of GM. Norges Bank bought a new position in General Motors in the 4th quarter worth approximately $602,280,000. Hotchkis & Wiley Capital Management LLC raised its position in General Motors by 21.9% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 18,097,486 shares of the auto manufacturer’s stock worth $650,062,000 after purchasing an additional 3,247,050 shares during the last quarter. Putnam Investments LLC raised its position in General Motors by 16.8% in the 4th quarter. Putnam Investments LLC now owns 20,237,820 shares of the auto manufacturer’s stock worth $726,942,000 after purchasing an additional 2,905,689 shares during the last quarter. AQR Capital Management LLC raised its position in General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in General Motors by 1,213.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 2,203,771 shares of the auto manufacturer’s stock worth $79,159,000 after purchasing an additional 2,035,925 shares during the last quarter. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 3.5 %

NYSE GM traded down $1.69 on Tuesday, reaching $46.42. The company had a trading volume of 18,066,455 shares, compared to its average volume of 16,269,555. The firm has a market capitalization of $52.96 billion, a price-to-earnings ratio of 5.67, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. General Motors has a 1-year low of $26.30 and a 1-year high of $49.35. The company’s fifty day moving average is $45.39 and its 200-day moving average is $41.20.

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 for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The firm had revenue of $43.01 billion during 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%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.21 EPS. On average, research analysts forecast that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

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

General Motors declared that its board has approved a share 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 often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. Sanford C. Bernstein assumed coverage on shares of General Motors in a research report on Thursday, April 25th. They set an “outperform” rating and a $55.00 target price for the company. Piper Sandler upped their target price on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, TheStreet upgraded shares of General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, General Motors currently has an average rating of “Moderate Buy” and a consensus target price of $54.91.

Insider Buying and Selling

In related news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the completion of the transaction, the president now directly owns 176,907 shares of the company’s stock, valued at approximately $7,684,840.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other 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 directly owns 176,907 shares in the company, valued at approximately $7,684,840.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Mark L. Reuss sold 14,858 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $46.01, for a total transaction of $683,616.58. Following the transaction, the president now owns 162,049 shares of the company’s stock, valued at $7,455,874.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,183,243 shares of company stock valued at $53,203,153. Company insiders own 0.72% of the company’s stock.

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.