Alambic Investment Management L.P. Takes $1.90 Million Position in General Motors (GM)

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Alambic Investment Management L.P. acquired a new position in shares of General Motors (NYSE:GM) (TSE:GMM.U) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 51,130 shares of the auto manufacturer’s stock, valued at approximately $1,897,000. General Motors makes up about 0.8% of Alambic Investment Management L.P.’s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of GM. Oregon Public Employees Retirement Fund grew its holdings in shares of General Motors by 2,701.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,064,309 shares of the auto manufacturer’s stock worth $1,018,000 after purchasing an additional 32,848,376 shares in the last quarter. Greenhaven Associates Inc. purchased a new position in shares of General Motors during the first quarter worth about $754,274,000. Norges Bank purchased a new position in shares of General Motors during the fourth quarter worth about $340,570,000. Diamond Hill Capital Management Inc. purchased a new position in shares of General Motors during the fourth quarter worth about $144,112,000. Finally, Vanguard Group Inc grew its holdings in shares of General Motors by 2.9% during the third quarter. Vanguard Group Inc now owns 96,849,509 shares of the auto manufacturer’s stock worth $3,260,923,000 after purchasing an additional 2,699,178 shares in the last quarter. 85.02% of the stock is owned by institutional investors.

Several brokerages have issued reports on GM. Zacks Investment Research lowered General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 10th. Goldman Sachs Group reaffirmed a “neutral” rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Nomura set a $42.00 target price on General Motors and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Seaport Global Securities began coverage on General Motors in a research note on Wednesday, February 13th. They issued a “buy” rating for the company. Finally, Royal Bank of Canada upped their target price on General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. General Motors presently has an average rating of “Buy” and an average target price of $47.60.

In related news, Director Wesley G. Bush acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was purchased at an average price of $38.58 per share, with a total value of $385,800.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dhivya Suryadevara sold 34,756 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $37.40, for a total value of $1,299,874.40. Following the sale, the chief financial officer now directly owns 10,741 shares of the company’s stock, valued at approximately $401,713.40. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Shares of GM opened at $35.12 on Monday. The company has a market capitalization of $52.66 billion, a price-to-earnings ratio of 5.37, a PEG ratio of 0.63 and a beta of 1.27. General Motors has a 1 year low of $30.56 and a 1 year high of $45.00. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 1.65.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, April 30th. The auto manufacturer reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.32. The firm had revenue of $34.88 billion during the quarter, compared to analyst estimates of $35.56 billion. General Motors had a return on equity of 22.67% and a net margin of 6.26%. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.43 earnings per share. Sell-side analysts anticipate that General Motors will post 6.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Thursday, June 6th. General Motors’s dividend payout ratio (DPR) is presently 23.24%.

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General Motors Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

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

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