Colonial Trust Co SC Acquires 295 Shares of General Motors (NYSE:GM)

Colonial Trust Co SC grew its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 35.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,130 shares of the auto manufacturer’s stock after purchasing an additional 295 shares during the period. Colonial Trust Co SC’s holdings in General Motors were worth $60,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in shares of General Motors by 1.1% during the third quarter. Principal Financial Group Inc. now owns 1,268,096 shares of the auto manufacturer’s stock valued at $56,861,000 after acquiring an additional 13,206 shares during the period. Hilltop National Bank lifted its holdings in General Motors by 6.9% during the 4th quarter. Hilltop National Bank now owns 3,876 shares of the auto manufacturer’s stock valued at $206,000 after purchasing an additional 249 shares during the last quarter. Czech National Bank boosted its position in General Motors by 4.1% in the fourth quarter. Czech National Bank now owns 238,415 shares of the auto manufacturer’s stock valued at $12,700,000 after buying an additional 9,461 shares in the last quarter. Wedmont Private Capital grew its stake in General Motors by 12.2% during the fourth quarter. Wedmont Private Capital now owns 9,968 shares of the auto manufacturer’s stock worth $497,000 after buying an additional 1,082 shares during the last quarter. Finally, Cooper Financial Group increased its holdings in shares of General Motors by 15.6% during the fourth quarter. Cooper Financial Group now owns 11,967 shares of the auto manufacturer’s stock worth $637,000 after buying an additional 1,615 shares in the last quarter. 92.67% of the stock is owned by institutional investors and hedge funds.

General Motors Stock Up 0.3 %

General Motors stock opened at $47.51 on Friday. The firm has a market capitalization of $45.68 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.67 and a beta of 1.36. The company’s 50 day simple moving average is $46.63 and its 200 day simple moving average is $50.10. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. General Motors has a fifty-two week low of $38.96 and a fifty-two week high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 29th. The auto manufacturer reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.15. The company had revenue of $44.02 billion during the quarter, compared to analyst estimates of $42.64 billion. General Motors had a net margin of 3.21% and a return on equity of 15.29%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.62 EPS. As a group, sell-side analysts anticipate that General Motors will post 11.44 EPS for the current year.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from General Motors’s previous quarterly dividend of $0.12. General Motors’s payout ratio is 8.65%.

General Motors announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 26th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the auto manufacturer to repurchase up to 12.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wells Fargo & Company restated an “underweight” rating on shares of General Motors in a research report on Monday, February 3rd. UBS Group lowered their target price on General Motors from $51.00 to $50.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein set a $36.00 price target on shares of General Motors in a research report on Monday. Cowen began coverage on shares of General Motors in a research report on Thursday, March 6th. They issued a “buy” rating for the company. Finally, Mizuho reduced their target price on shares of General Motors from $55.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and an average price target of $54.28.

General Motors Company 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.