Proficio Capital Partners LLC Has $409,000 Stake in General Motors (NYSE:GM)

Proficio Capital Partners LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 4.3% during the first quarter, Holdings Channel reports. The institutional investor owned 9,025 shares of the auto manufacturer’s stock after acquiring an additional 375 shares during the quarter. Proficio Capital Partners LLC’s holdings in General Motors were worth $409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of GM. Mutual Advisors LLC grew its stake in General Motors by 1.2% during the first quarter. Mutual Advisors LLC now owns 53,086 shares of the auto manufacturer’s stock worth $2,407,000 after buying an additional 644 shares during the last quarter. Jennison Associates LLC grew its position in General Motors by 2.8% during the 1st quarter. Jennison Associates LLC now owns 1,429,599 shares of the auto manufacturer’s stock worth $64,832,000 after acquiring an additional 38,560 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in General Motors by 0.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 165,050 shares of the auto manufacturer’s stock valued at $7,485,000 after purchasing an additional 1,000 shares in the last quarter. Nordea Investment Management AB raised its position in General Motors by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 100,090 shares of the auto manufacturer’s stock valued at $4,532,000 after purchasing an additional 3,433 shares during the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in General Motors by 57.3% in the first quarter. Fidelis Capital Partners LLC now owns 10,088 shares of the auto manufacturer’s stock worth $457,000 after purchasing an additional 3,675 shares in the last quarter. Institutional investors own 92.67% of the company’s stock.

Insider Activity at General Motors

In other General Motors news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction dated Tuesday, May 28th. The stock was 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 of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 of the company’s stock, valued at $52,093,242.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the firm’s stock in a transaction dated 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 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. In the last ninety days, insiders have sold 1,152,621 shares of company stock valued at $51,818,111. 0.72% of the stock is owned by corporate insiders.

General Motors Trading Up 0.4 %

Shares of GM stock traded up $0.18 on Wednesday, reaching $46.44. The company had a trading volume of 1,051,024 shares, compared to its average volume of 15,784,308. The company has a 50-day moving average of $45.82 and a 200-day moving average of $41.98. General Motors has a 12 month low of $26.30 and a 12 month high of $49.35. The stock has a market cap of $52.99 billion, a PE ratio of 5.68, a PEG ratio of 0.49 and a beta of 1.43. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. During the same period in the previous year, the firm earned $2.21 earnings per share. The company’s revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that General Motors will post 9.43 earnings per share for the current year.

General Motors announced that its board has approved a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

General Motors Announces Dividend

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a report on Tuesday, April 23rd. Morgan Stanley boosted their target price on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price target on shares of General Motors from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, June 25th. Mizuho boosted their price objective on shares of General Motors from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, Sanford C. Bernstein started coverage on General Motors in a research report on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.96.

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.