M&T Bank Corp Has $2.02 Million Stock Holdings in General Motors (NYSE:GM)

M&T Bank Corp lessened its stake in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 16.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 56,241 shares of the auto manufacturer’s stock after selling 11,151 shares during the quarter. M&T Bank Corp’s holdings in General Motors were worth $2,020,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GM. Highlander Capital Management LLC bought a new position in General Motors during the fourth quarter worth $27,000. SouthState Corp increased its position in shares of General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after acquiring an additional 485 shares in the last quarter. Bfsg LLC acquired a new stake in shares of General Motors in the 4th quarter worth about $35,000. Tennessee Valley Asset Management Partners bought a new stake in General Motors during the 4th quarter worth approximately $36,000. Finally, Venturi Wealth Management LLC boosted its position in shares of General Motors by 74.6% during the fourth 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. 92.67% of the stock is currently owned by institutional investors.

Insider Activity

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at approximately $3,348,562.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 71,506 shares in the company, valued at approximately $3,236,361.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.72% of the stock is owned by company insiders.

General Motors Stock Up 0.7 %

GM opened at $45.36 on Friday. General Motors has a 12 month low of $26.30 and a 12 month high of $46.17. The company has a market cap of $51.75 billion, a PE ratio of 5.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.97 and a debt-to-equity ratio of 1.22. The company has a 50 day moving average of $43.14 and a 200 day moving average of $37.16.

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, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion during the quarter, compared to analyst estimates of $41.09 billion. During the same period last year, the company earned $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that General Motors will post 9.44 EPS for the current year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, June 7th. General Motors’s payout ratio is 5.87%.

Analysts Set New Price Targets

GM has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on shares of General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. Piper Sandler increased their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wells Fargo & Company boosted their target price on General Motors from $28.00 to $30.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 24th. The Goldman Sachs Group increased their price target on General Motors from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, TheStreet raised General Motors from a “c+” rating to a “b-” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.65.

General Motors 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.