Alliancebernstein L.P. Decreases Holdings in General Motors Company $GM

Alliancebernstein L.P. reduced its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 9.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,355,601 shares of the auto manufacturer’s stock after selling 139,938 shares during the period. Alliancebernstein L.P. owned about 0.14% of General Motors worth $63,754,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of GM. AQR Capital Management LLC increased its stake in General Motors by 146.8% in the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after purchasing an additional 8,012,743 shares during the period. Vanguard Group Inc. increased its stake in General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer’s stock worth $4,672,023,000 after purchasing an additional 6,395,375 shares during the period. Nuveen LLC purchased a new position in General Motors in the 1st quarter worth approximately $175,889,000. Assenagon Asset Management S.A. increased its stake in General Motors by 305.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer’s stock worth $134,457,000 after purchasing an additional 2,154,037 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer’s stock worth $603,048,000 after purchasing an additional 1,910,186 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 0.2%

NYSE GM opened at $58.24 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. The firm has a market capitalization of $55.45 billion, a PE ratio of 9.25, a P/E/G ratio of 1.23 and a beta of 1.32. The stock’s 50 day moving average is $54.46 and its 200 day moving average is $49.95.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period in the previous year, the company posted $3.06 earnings per share. The firm’s revenue was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Research analysts forecast that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, September 5th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. General Motors’s payout ratio is currently 9.52%.

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 87,839 shares of General Motors stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $58.13, for a total transaction of $5,106,081.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 14,667 shares of the business’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total value of $865,353.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at $708,413. This trade represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,070,311 shares of company stock worth $62,095,433 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on GM shares. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of General Motors in a research note on Thursday, July 24th. Citigroup lifted their price objective on General Motors from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Bank of America cut their price objective on General Motors from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Piper Sandler reiterated a “neutral” rating and issued a $48.00 price objective (up from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. Finally, Wedbush lifted their price objective on General Motors from $55.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.05.

About General Motors

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.