Tidal Investments LLC Has $3.97 Million Holdings in General Motors (NYSE:GM)

Tidal Investments LLC lifted its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,590 shares of the auto manufacturer’s stock after buying an additional 9,201 shares during the quarter. Tidal Investments LLC’s holdings in General Motors were worth $3,973,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Trust Point Inc. increased its position in shares of General Motors by 2.7% during the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after buying an additional 193 shares during the period. Holistic Planning LLC increased its position in shares of General Motors by 3.9% during the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after buying an additional 214 shares during the period. Nemes Rush Group LLC increased its position in shares of General Motors by 18.7% during the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer’s stock worth $73,000 after buying an additional 217 shares during the period. Operose Advisors LLC increased its position in shares of General Motors by 18.7% during the fourth quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer’s stock worth $75,000 after buying an additional 223 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of General Motors by 0.4% during the fourth quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer’s stock worth $2,856,000 after buying an additional 226 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 0.3%

General Motors stock opened at $50.20 on Wednesday. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The firm has a market capitalization of $48.26 billion, a price-to-earnings ratio of 8.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.36. The firm’s fifty day moving average price is $46.95 and its two-hundred day moving average price is $50.00. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.15. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm had revenue of $44.02 billion for the quarter, compared to analyst estimates of $42.64 billion. During the same period last year, the firm earned $2.62 earnings per share. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, equities research analysts predict that General Motors will post 11.44 earnings per share for the current fiscal year.

General Motors declared that its board has authorized a share repurchase plan on Wednesday, February 26th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

General Motors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a dividend of $0.15 per share. This is a positive change from General Motors’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 6th. General Motors’s dividend payout ratio (DPR) is presently 8.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on GM shares. Piper Sandler increased their price objective on shares of General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. The Goldman Sachs Group cut their target price on shares of General Motors from $73.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company reaffirmed an “underweight” rating on shares of General Motors in a research note on Monday, February 3rd. UBS Group dropped their price objective on shares of General Motors from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Finally, TD Cowen assumed coverage on shares of General Motors in a research report on Friday, March 7th. They set a “buy” rating and a $105.00 price objective on the stock. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, General Motors has an average rating of “Hold” and a consensus price target of $54.56.

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.