abrdn plc Has $21.43 Million Position in General Motors (NYSE:GM)

abrdn plc raised its position in General Motors (NYSE:GM) (TSE:GMM.U) by 54.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 596,575 shares of the auto manufacturer’s stock after acquiring an additional 210,009 shares during the period. abrdn plc’s holdings in General Motors were worth $21,429,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. SouthState Corp increased its position in shares of General Motors by 173.8% in the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after acquiring an additional 485 shares during the last quarter. Highlander Capital Management LLC bought a new position in General Motors in the fourth quarter valued at approximately $27,000. BluePath Capital Management LLC acquired a new position in shares of General Motors during the 3rd quarter worth approximately $33,000. Tennessee Valley Asset Management Partners bought a new stake in shares of General Motors during the 4th quarter worth approximately $36,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of General Motors by 74.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock valued at $44,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GM shares. Barclays boosted their target price on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. The Goldman Sachs Group boosted their price target on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Mizuho lifted their target price on General Motors from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, March 25th. Wells Fargo & Company increased their price target on General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research note on Wednesday, January 31st. Finally, Redburn Atlantic assumed coverage on shares of General Motors in a research report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.52.

Insider Activity at General Motors

In other General Motors news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now directly owns 21,507 shares in the company, valued at $860,710.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.26, for a total value of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.02, for a total transaction of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at $860,710.14. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock valued at $3,614,078 over the last three months. 0.54% of the stock is owned by insiders.

General Motors Stock Performance

NYSE:GM opened at $45.10 on Wednesday. The company has a market cap of $52.06 billion, a price-to-earnings ratio of 6.17, a PEG ratio of 0.51 and a beta of 1.51. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $46.04. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.90 and a current ratio of 1.08. The stock has a fifty day moving average price of $41.86 and a 200-day moving average price of $36.06.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. General Motors’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.21 earnings per share. As a group, equities analysts anticipate that General Motors will post 9.12 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. General Motors’s dividend payout ratio is 6.57%.

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.