SeaCrest Wealth Management LLC Has $246,000 Holdings in General Motors (NYSE:GM)

SeaCrest Wealth Management LLC cut its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,240 shares of the auto manufacturer’s stock after selling 1,334 shares during the period. SeaCrest Wealth Management LLC’s holdings in General Motors were worth $246,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in General Motors in the fourth quarter worth about $25,404,000. Asset Management One Co. Ltd. boosted its stake in shares of General Motors by 9.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 463,848 shares of the auto manufacturer’s stock valued at $25,178,000 after purchasing an additional 39,474 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of General Motors by 10.9% during the 4th quarter. Handelsbanken Fonder AB now owns 202,054 shares of the auto manufacturer’s stock worth $10,763,000 after buying an additional 19,924 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of General Motors during the fourth quarter worth approximately $394,000. Finally, Vontobel Holding Ltd. raised its stake in shares of General Motors by 65.3% during the fourth quarter. Vontobel Holding Ltd. now owns 64,930 shares of the auto manufacturer’s stock worth $3,459,000 after buying an additional 25,639 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Up 0.5%

Shares of GM stock opened at $47.50 on Monday. General Motors has a 12-month low of $38.96 and a 12-month high of $61.24. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38. The firm has a fifty day moving average of $46.80 and a 200-day moving average of $49.30. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 0.67 and a beta of 1.34.

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

General Motors Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Friday, June 6th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, June 6th. This is a positive change from General Motors’s previous quarterly dividend of $0.12. General Motors’s dividend payout ratio (DPR) is currently 8.65%.

General Motors announced that its Board of Directors has approved a share buyback program on Wednesday, February 26th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on GM. Royal Bank of Canada lifted their target price on shares of General Motors from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Barclays lifted their price objective on General Motors from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Wedbush cut their target price on General Motors from $60.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. TD Cowen began coverage on General Motors in a report on Friday, March 7th. They set a “buy” rating and a $105.00 target price on the stock. Finally, Mizuho boosted their target price on General Motors from $53.00 to $58.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, General Motors has an average rating of “Hold” and an average target price of $54.56.

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.