HB Wealth Management LLC Lowers Stake in General Motors (NYSE:GM)

HB Wealth Management LLC trimmed its holdings in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 37.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,855 shares of the auto manufacturer’s stock after selling 7,102 shares during the period. HB Wealth Management LLC’s holdings in General Motors were worth $426,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Norges Bank purchased a new stake in General Motors during the 4th quarter valued at approximately $493,248,000. Price T Rowe Associates Inc. MD raised its stake in shares of General Motors by 80.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,687,738 shares of the auto manufacturer’s stock worth $538,747,000 after purchasing an additional 6,548,022 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in shares of General Motors by 454.3% during the third quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares during the period. Renaissance Technologies LLC grew its position in General Motors by 1,257.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,368,500 shares of the auto manufacturer’s stock valued at $103,598,000 after buying an additional 2,194,000 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock valued at $274,531,000 after buying an additional 2,049,412 shares during the period. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GM. The Goldman Sachs Group raised their target price on shares of General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Wells Fargo & Company increased their target price on General Motors from $27.00 to $28.00 and gave the stock an “underweight” rating in a research note on Wednesday, January 31st. Mizuho lifted their price target on General Motors from $44.00 to $48.00 and gave the company a “buy” rating in a research note on Monday. Redburn Atlantic started coverage on General Motors in a report on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. Finally, Piper Sandler started coverage on General Motors in a report on Friday, March 15th. They issued a “neutral” rating and a $44.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.63.

Check Out Our Latest Research Report on General Motors

General Motors Stock Performance

Shares of GM opened at $44.61 on Thursday. General Motors has a 12-month low of $26.30 and a 12-month high of $44.81. The stock has a market cap of $51.49 billion, a P/E ratio of 6.10, a PEG ratio of 0.54 and a beta of 1.50. The company has a current ratio of 1.08, a quick ratio of 0.90 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average of $39.08 and a two-hundred day moving average of $34.46.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, January 30th. The auto manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.08. The firm had revenue of $42.98 billion during the quarter, compared to the consensus estimate of $38.81 billion. General Motors had a return on equity of 14.34% and a net margin of 5.89%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.12 EPS. As a group, research analysts predict that General Motors will post 9 EPS for the current fiscal year.

General Motors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Friday, March 1st were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from General Motors’s previous quarterly dividend of $0.09. General Motors’s dividend payout ratio (DPR) is currently 6.57%.

Insider Activity at General Motors

In other General Motors news, EVP Julian G. Blissett sold 13,826 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the sale, the executive vice president now directly owns 87,567 shares of the company’s stock, valued at approximately $3,348,562.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the completion of the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the transaction, the chief accounting officer now owns 21,507 shares in the company, valued at $860,710.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 55,626 shares of company stock valued at $2,229,036. 0.54% of the stock is owned by insiders.

About General Motors

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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