General Motors Company $GM Stock: ProShare Advisors LLC Cuts Holdings

ProShare Advisors LLC lowered its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 54.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 140,930 shares of the auto manufacturer’s stock after selling 171,524 shares during the period. ProShare Advisors LLC’s holdings in General Motors were worth $10,852,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GM. Evergreen Advisors LLC bought a new stake in General Motors in the first quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of General Motors in the second quarter valued at approximately $31,000. Premier Financial Group bought a new position in shares of General Motors during the 2nd quarter worth approximately $31,000. Burk Holdings LLC bought a new position in shares of General Motors during the 2nd quarter worth approximately $31,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of General Motors by 70.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 464 shares of the auto manufacturer’s stock worth $36,000 after acquiring an additional 192 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Key General Motors News

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: GM plans to add an AI “intelligence layer” to OnStar, potentially expanding the capabilities of its connected-vehicle services. GM adding an AI intelligence layer to OnStar
• Positive Sentiment: The automaker’s upcoming hybrid push will begin with large SUVs, broadening its powertrain options in a major vehicle segment. GM’s hybrid onslaught will start with its big SUVs
• Neutral Sentiment: A comparison with Ford says GM has the stronger operating profile, while Ford offers a larger dividend—a favorable operational comparison, but not a direct catalyst for near-term earnings. GM vs Ford comparison
• Neutral Sentiment: Zacks describes GM as a top-ranked value stock, though the article’s supplied details do not indicate a new earnings or business catalyst. Zacks on GM as a value stock
• Negative Sentiment: GM is facing a reported $220 million privacy settlement tied to driver data practices, creating a financial cost and renewed scrutiny of how the company handles connected-vehicle data. GM’s $220 million privacy settlement
• Negative Sentiment: Ohio is to receive $8 million from GM over sharing driver data, adding to the legal and reputational concerns around the company’s data practices. Ohio to get $8 million from GM

Analysts Set New Price Targets

GM has been the topic of a number of research analyst reports. Benchmark restated a “buy” rating and issued a $105.00 price target (up from $90.00) on shares of General Motors in a research note on Tuesday, July 21st. Wells Fargo & Company lifted their price objective on shares of General Motors from $60.00 to $61.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 22nd. Truist Financial set a $105.00 price objective on shares of General Motors in a report on Wednesday, October 7th. Barclays dropped their price objective on shares of General Motors from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 21st. Finally, BNP Paribas Exane raised their target price on shares of General Motors from $102.00 to $112.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

General Motors Price Performance

General Motors stock opened at $88.34 on Wednesday. General Motors Company has a 12 month low of $66.75 and a 12 month high of $91.85. The stock’s 50 day moving average is $83.15 and its 200-day moving average is $80.69. The company has a current ratio of 1.09, a quick ratio of 0.94 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $74.52 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 0.51 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.01. The company had revenue of $50.02 billion for the quarter, compared to analyst estimates of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 earnings per share. Equities research analysts expect that General Motors Company will post 13.38 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, December 4th. This represents a $0.72 annualized dividend and a yield of 0.8%. General Motors’s dividend payout ratio (DPR) is presently 16.51%.

General Motors announced that its Board of Directors has initiated a share buyback plan on Tuesday, October 20th that allows the company to repurchase $20 billion in outstanding shares. This repurchase authorization allows the auto manufacturer to reacquire up to 27.5% of its shares through open market purchases. Share repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

About General Motors

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.