Wells Fargo & Company Raises General Motors (NYSE:GM) Price Target to $30.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price target lifted by Wells Fargo & Company from $28.00 to $30.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an underweight rating on the auto manufacturer’s stock.

A number of other research analysts also recently commented on GM. Piper Sandler began coverage on shares of General Motors in a research report on Friday, March 15th. They issued a neutral rating and a $44.00 price objective for the company. Mizuho lifted their price objective on shares of General Motors from $48.00 to $52.00 and gave the company a buy rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a hold rating in a research report on Tuesday. Tigress Financial raised their target price on shares of General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a research note on Thursday, February 15th. Finally, Redburn Atlantic started coverage on shares of General Motors in a research note on Wednesday, January 24th. They set a neutral rating and a $40.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $54.35.

General Motors Stock Down 0.1 %

Shares of GM stock opened at $45.07 on Wednesday. The firm has a fifty day moving average of $42.00 and a 200-day moving average of $36.12. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. General Motors has a 12-month low of $26.30 and a 12-month high of $46.04. The company has a market capitalization of $52.03 billion, a price-to-earnings ratio of 5.51, a P/E/G ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The company had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that General Motors will post 9.26 earnings per share for the current fiscal year.

General Motors Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Friday, June 7th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is 5.87%.

Insiders Place Their Bets

In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gerald Johnson sold 15,190 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $40.03, for a total transaction of $608,055.70. Following the completion of the transaction, the executive vice president now directly owns 98,628 shares in the company, valued at $3,948,078.84. The disclosure for this sale can be found here. Insiders sold 86,248 shares of company stock worth $3,614,078 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On General Motors

Several hedge funds and other institutional investors have recently made changes to their positions in GM. Arkadios Wealth Advisors bought a new stake in shares of General Motors during the 3rd quarter valued at approximately $249,000. Impact Partnership Wealth LLC grew its holdings in shares of General Motors by 53.8% during the 3rd quarter. Impact Partnership Wealth LLC now owns 1,649 shares of the auto manufacturer’s stock valued at $54,000 after purchasing an additional 577 shares during the last quarter. Founders Financial Securities LLC grew its holdings in shares of General Motors by 6.6% during the 3rd quarter. Founders Financial Securities LLC now owns 14,472 shares of the auto manufacturer’s stock valued at $477,000 after purchasing an additional 890 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in General Motors by 11,739.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 212,631 shares of the auto manufacturer’s stock worth $7,010,000 after acquiring an additional 210,835 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in General Motors during the 3rd quarter worth approximately $122,000. 92.67% of the stock is owned by institutional investors.

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.