Portside Wealth Group LLC Sells 794 Shares of General Motors Company $GM

Portside Wealth Group LLC decreased its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 12.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,366 shares of the auto manufacturer’s stock after selling 794 shares during the quarter. Portside Wealth Group LLC’s holdings in General Motors were worth $264,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. United Advisor Group LLC bought a new position in shares of General Motors in the second quarter valued at $220,000. Empowered Funds LLC lifted its stake in General Motors by 637.7% in the second quarter. Empowered Funds LLC now owns 258,594 shares of the auto manufacturer’s stock valued at $12,725,000 after acquiring an additional 223,538 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of General Motors by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 110,759,703 shares of the auto manufacturer’s stock worth $5,450,485,000 after purchasing an additional 11,418,367 shares during the last quarter. Frank Rimerman Advisors LLC increased its stake in shares of General Motors by 45.5% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,570 shares of the auto manufacturer’s stock worth $422,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Westpac Banking Corp raised its holdings in shares of General Motors by 12.3% in the 2nd quarter. Westpac Banking Corp now owns 31,453 shares of the auto manufacturer’s stock valued at $1,548,000 after purchasing an additional 3,439 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, President Mark L. Reuss sold 260,600 shares of General Motors stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $66.45, for a total transaction of $17,316,870.00. Following the transaction, the president owned 98,006 shares in the company, valued at approximately $6,512,498.70. The trade was a 72.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $59.95, for a total value of $45,185,514.00. Following the completion of the sale, the chief executive officer owned 433,527 shares of the company’s stock, valued at $25,989,943.65. The trade was a 63.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 2,298,064 shares of company stock valued at $138,050,080. 0.54% of the stock is currently owned by company insiders.

General Motors Price Performance

GM stock opened at $68.55 on Thursday. The stock has a market cap of $63.94 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 0.96 and a beta of 1.41. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06. The company has a 50 day simple moving average of $63.23 and a 200 day simple moving average of $55.96. General Motors Company has a 1 year low of $41.60 and a 1 year high of $72.87.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The company had revenue of $48.59 billion during the quarter, compared to the consensus estimate of $44.60 billion. During the same period in the prior year, the business earned $2.96 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Research analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is presently 12.07%.

Analyst Ratings Changes

A number of equities analysts have weighed in on GM shares. Barclays boosted their price target on General Motors from $77.00 to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Cowen reissued a “buy” rating on shares of General Motors in a report on Tuesday, October 21st. Tigress Financial raised their price target on General Motors from $88.00 to $92.00 and gave the company a “strong-buy” rating in a report on Friday, October 24th. Benchmark reiterated a “buy” rating on shares of General Motors in a report on Wednesday, October 22nd. Finally, Mizuho set a $76.00 price objective on shares of General Motors in a research report on Wednesday, October 22nd. Three analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

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.