SVB Wealth LLC Sells 27,847 Shares of General Motors Company $GM

SVB Wealth LLC reduced its position in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 68.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,930 shares of the auto manufacturer’s stock after selling 27,847 shares during the period. SVB Wealth LLC’s holdings in General Motors were worth $636,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 buying an additional 11,418,367 shares in the last quarter. Norges Bank purchased a new stake in shares of General Motors during the second quarter valued at approximately $444,319,000. AQR Capital Management LLC lifted its holdings in General Motors by 146.8% during the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer’s stock worth $629,196,000 after acquiring an additional 8,012,743 shares during the period. Nuveen LLC purchased a new position in General Motors in the first quarter worth $175,889,000. Finally, Kingstone Capital Partners Texas LLC bought a new position in General Motors in the 2nd quarter valued at $125,583,000. 92.67% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on GM. Citigroup lifted their target price on General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Jefferies Financial Group boosted their target price on shares of General Motors from $50.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, October 6th. Royal Bank Of Canada raised their price target on shares of General Motors from $77.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group upped their price objective on General Motors from $81.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Cowen reissued a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Three analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.86.

Insider Buying and Selling

In other news, CEO Mary T. Barra sold 753,720 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 433,527 shares of the company’s stock, valued at approximately $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 6,600 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $61.95, for a total transaction of $408,870.00. Following the transaction, the executive vice president directly owned 8,513 shares of the company’s stock, valued at approximately $527,380.35. This represents a 43.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 1,288,534 shares of company stock valued at $79,253,568. Corporate insiders own 0.54% of the company’s stock.

General Motors Trading Up 1.8%

Shares of GM stock opened at $77.07 on Wednesday. The stock has a market capitalization of $71.90 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 0.86 and a beta of 1.30. The company’s fifty day simple moving average is $67.10 and its two-hundred day simple moving average is $58.44. General Motors Company has a 1 year low of $41.60 and a 1 year high of $77.35. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06.

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

General Motors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. General Motors’s payout ratio is presently 12.07%.

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.