Alberta Investment Management Corp Acquires New Shares in General Motors Company $GM

Alberta Investment Management Corp acquired a new position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) during the third quarter, Holdings Channel.com reports. The fund acquired 49,690 shares of the auto manufacturer’s stock, valued at approximately $3,030,000.

Other hedge funds have also added to or reduced their stakes in the company. Steigerwald Gordon & Koch Inc. bought a new position in shares of General Motors in the third quarter valued at approximately $29,000. Armstrong Advisory Group Inc. lifted its stake in General Motors by 94.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 545 shares of the auto manufacturer’s stock worth $33,000 after purchasing an additional 265 shares in the last quarter. ESL Trust Services LLC bought a new position in General Motors in the 3rd quarter valued at $37,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of General Motors during the 2nd quarter valued at $38,000. Finally, Optimum Investment Advisors increased its holdings in shares of General Motors by 60.0% in the second quarter. Optimum Investment Advisors now owns 800 shares of the auto manufacturer’s stock worth $39,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 92.67% of the company’s stock.

General Motors Stock Down 2.7%

Shares of General Motors stock opened at $81.40 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.01 and a current ratio of 1.17. General Motors Company has a 52-week low of $41.60 and a 52-week high of $87.62. The company’s 50 day moving average price is $82.18 and its 200-day moving average price is $69.74. The stock has a market capitalization of $73.58 billion, a price-to-earnings ratio of 27.04, a P/E/G ratio of 0.46 and a beta of 1.36.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 27th. The auto manufacturer reported $2.51 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.25. General Motors had a return on equity of 14.72% and a net margin of 1.46%.The company had revenue of $45.29 billion for the quarter, compared to analysts’ expectations of $45.81 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. General Motors has set its FY 2026 guidance at 9.750-10.500 EPS. Equities research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors announced that its board has authorized a stock repurchase program on Tuesday, January 27th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the auto manufacturer to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

General Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Friday, March 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. This is a boost from General Motors’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 6th. General Motors’s dividend payout ratio is currently 19.93%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on General Motors from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, January 21st. Wedbush boosted their price objective on General Motors from $75.00 to $95.00 and gave the stock an “outperform” rating in a report on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up from $98.00) on shares of General Motors in a research note on Wednesday, January 28th. Morgan Stanley reiterated an “overweight” rating and set a $100.00 target price on shares of General Motors in a research report on Wednesday, January 28th. Finally, TD Cowen reissued a “buy” rating on shares of General Motors in a report on Wednesday, January 28th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, General Motors has an average rating of “Moderate Buy” and an average target price of $89.52.

General Motors Company Profile

General Motors Company (NYSE: GM) is a global automotive manufacturer headquartered in Detroit, Michigan, that designs, builds and sells cars, trucks, crossovers and electric vehicles, and provides related parts and services. Founded in 1908, GM has long been one of the world’s largest automakers and has evolved into a multi-brand company whose primary marques include Chevrolet, GMC, Cadillac and Buick. Beyond vehicle manufacturing, GM’s operations encompass vehicle financing, connected services and advanced mobility initiatives.

GM develops and markets a broad portfolio of products and technologies, including internal-combustion and battery-electric vehicles, vehicle components and on-board connectivity services.