abrdn plc Has $40.87 Million Holdings in General Motors (NYSE:GM)

abrdn plc trimmed its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 30.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 914,440 shares of the auto manufacturer’s stock after selling 394,911 shares during the period. abrdn plc’s holdings in General Motors were worth $40,871,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position in shares of General Motors by 35.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,827 shares of the auto manufacturer’s stock worth $82,000 after acquiring an additional 480 shares in the last quarter. ACR Alpine Capital Research LLC boosted its holdings in shares of General Motors by 8.4% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,337,547 shares of the auto manufacturer’s stock valued at $287,408,000 after purchasing an additional 492,693 shares in the last quarter. BDF Gestion acquired a new stake in shares of General Motors in the 2nd quarter valued at $2,886,000. Atomi Financial Group Inc. bought a new position in shares of General Motors in the 1st quarter valued at $244,000. Finally, Cetera Investment Advisers raised its holdings in shares of General Motors by 98.5% during the 1st quarter. Cetera Investment Advisers now owns 330,611 shares of the auto manufacturer’s stock worth $14,993,000 after buying an additional 164,083 shares in the last quarter. 92.67% of the stock is owned by institutional investors.

General Motors Price Performance

GM stock opened at $51.96 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.21 and a debt-to-equity ratio of 1.24. The firm has a market cap of $57.14 billion, a price-to-earnings ratio of 5.54, a PEG ratio of 0.60 and a beta of 1.42. The company’s fifty day simple moving average is $48.17 and its 200 day simple moving average is $46.37. General Motors has a 12-month low of $26.30 and a 12-month high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The company had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $44.67 billion. During the same period in the previous year, the business earned $2.28 EPS. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, analysts expect that General Motors will post 10.05 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, December 6th. General Motors’s dividend payout ratio (DPR) is 5.12%.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Rory Harvey sold 2,302 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $47.31, for a total value of $108,907.62. Following the completion of the sale, the executive vice president now directly owns 10,356 shares of the company’s stock, valued at $489,942.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 506,824 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the completion of the transaction, the chief executive officer now owns 694,548 shares in the company, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 531,228 shares of company stock worth $28,267,714 in the last quarter. 0.72% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on GM. JPMorgan Chase & Co. lifted their target price on General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Nomura cut shares of General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price on the stock. in a research note on Monday, August 5th. Wedbush increased their price target on General Motors from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Wolfe Research initiated coverage on General Motors in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.92.

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.