General Motors (NYSE:GM) Shares Purchased by Foundations Investment Advisors LLC

Posted by on Jul 12th, 2023

Foundations Investment Advisors LLC increased its position in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 2.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,651 shares of the auto manufacturer’s stock after buying an additional 431 shares during the quarter. Foundations Investment Advisors LLC’s holdings in General Motors were worth $574,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mission Wealth Management LP purchased a new position in General Motors during the 4th quarter worth approximately $211,000. Qtron Investments LLC purchased a new position in General Motors during the 4th quarter worth $256,000. Traynor Capital Management Inc. purchased a new position in General Motors during the 1st quarter worth $208,000. Daiwa Securities Group Inc. grew its position in General Motors by 3.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 147,239 shares of the auto manufacturer’s stock worth $4,953,000 after purchasing an additional 5,540 shares during the last quarter. Finally, Waterfront Wealth Inc. grew its position in General Motors by 4.3% during the 4th quarter. Waterfront Wealth Inc. now owns 58,824 shares of the auto manufacturer’s stock worth $2,232,000 after purchasing an additional 2,420 shares during the last quarter. Hedge funds and other institutional investors own 78.83% of the company’s stock.

Insider Activity

In related news, CFO Paul A. Jacobson acquired 31,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were acquired at an average price of $32.60 per share, with a total value of $1,010,600.00. Following the completion of the purchase, the chief financial officer now directly owns 186,847 shares in the company, valued at $6,091,212.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GM shares. Deutsche Bank Aktiengesellschaft dropped their target price on General Motors from $37.00 to $35.00 in a report on Wednesday, April 26th. Bank of America boosted their target price on General Motors from $70.00 to $72.00 in a report on Thursday, July 6th. Jefferies Financial Group boosted their price target on shares of General Motors from $37.00 to $39.00 in a research note on Friday, July 7th. Wells Fargo & Company boosted their price target on shares of General Motors from $30.00 to $32.00 in a research note on Monday. Finally, Morgan Stanley boosted their price target on shares of General Motors from $38.00 to $41.00 in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $49.82.

General Motors Stock Up 0.8 %

General Motors stock opened at $39.97 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.90 and a current ratio of 1.10. The firm has a market capitalization of $55.56 billion, a price-to-earnings ratio of 6.18, a price-to-earnings-growth ratio of 0.59 and a beta of 1.36. General Motors has a fifty-two week low of $30.36 and a fifty-two week high of $43.63. The stock’s fifty day moving average is $35.42 and its two-hundred day moving average is $36.27.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 25th. The auto manufacturer reported $2.21 EPS for the quarter, beating the consensus estimate of $1.53 by $0.68. The business had revenue of $39.99 billion for the quarter, compared to analyst estimates of $39.38 billion. General Motors had a net margin of 5.84% and a return on equity of 15.74%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.09 earnings per share. Analysts predict that General Motors will post 6.86 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd were given a $0.09 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.36 annualized dividend and a dividend yield of 0.90%. General Motors’s dividend payout ratio is presently 5.56%.

About General Motors

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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