Covenant Multifamily Offices LLC Has $3.90 Million Position in General Motors (GM)

Covenant Multifamily Offices LLC increased its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 105,147 shares of the auto manufacturer’s stock after buying an additional 1,378 shares during the period. General Motors accounts for about 1.3% of Covenant Multifamily Offices LLC’s portfolio, making the stock its 10th largest holding. Covenant Multifamily Offices LLC’s holdings in General Motors were worth $3,901,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signet Investment Advisory Group Inc. purchased a new stake in General Motors during the fourth quarter worth about $26,000. NuWave Investment Management LLC increased its holdings in General Motors by 198.6% during the fourth quarter. NuWave Investment Management LLC now owns 884 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 588 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in General Motors by 63.0% during the fourth quarter. Cornerstone Advisors Inc. now owns 895 shares of the auto manufacturer’s stock worth $30,000 after buying an additional 346 shares during the last quarter. Advisors Preferred LLC purchased a new stake in General Motors during the fourth quarter worth about $31,000. Finally, Liberty Wealth Management LLC purchased a new stake in General Motors during the fourth quarter worth about $30,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Christopher Hatto sold 8,499 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.00, for a total value of $339,960.00. Following the completion of the transaction, the vice president now directly owns 10,040 shares in the company, valued at $401,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wesley G. Bush acquired 10,000 shares of the business’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 disclosure for this purchase can be found here. 0.51% of the stock is currently owned by company insiders.

A number of analysts recently issued reports on GM shares. Citigroup raised their price objective on shares of General Motors to $67.00 and gave the stock a “buy” rating in a report on Friday, February 8th. Royal Bank of Canada lifted their target price on shares of General Motors from $50.00 to $52.00 and gave the stock an “outperform” rating in a research note on Thursday, February 7th. Seaport Global Securities started coverage on shares of General Motors in a research note on Wednesday, February 13th. They issued a “buy” rating for the company. Goldman Sachs Group reiterated a “neutral” rating and issued a $36.00 target price on shares of General Motors in a research note on Tuesday, March 26th. Finally, Nomura set a $42.00 target price on shares of General Motors and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. General Motors presently has a consensus rating of “Buy” and a consensus price target of $47.60.

Shares of GM stock traded down $1.58 during trading hours on Wednesday, reaching $35.55. The stock had a trading volume of 12,583,672 shares, compared to its average volume of 9,387,411. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. General Motors has a 12 month low of $30.56 and a 12 month high of $45.00. The firm has a market capitalization of $52.66 billion, a P/E ratio of 5.44, a price-to-earnings-growth ratio of 0.63 and a beta of 1.27.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.28%. General Motors’s dividend payout ratio (DPR) is currently 23.24%.

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General Motors Company 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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