abrdn plc Sells 61,011 Shares of General Motors (NYSE:GM)

abrdn plc trimmed its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 6.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 853,429 shares of the auto manufacturer’s stock after selling 61,011 shares during the quarter. abrdn plc’s holdings in General Motors were worth $45,522,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Trust Point Inc. increased its stake in General Motors by 2.7% during the 4th quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after purchasing an additional 193 shares in the last quarter. Holistic Planning LLC increased its stake in General Motors by 3.9% during the 4th quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after purchasing an additional 214 shares in the last quarter. HHM Wealth Advisors LLC increased its stake in General Motors by 21.9% during the 4th quarter. HHM Wealth Advisors LLC now owns 1,606 shares of the auto manufacturer’s stock worth $86,000 after purchasing an additional 289 shares in the last quarter. Western Pacific Wealth Management LP increased its stake in General Motors by 51.4% during the 4th quarter. Western Pacific Wealth Management LP now owns 9,117 shares of the auto manufacturer’s stock worth $486,000 after purchasing an additional 3,095 shares in the last quarter. Finally, McAdam LLC bought a new stake in General Motors during the 4th quarter worth approximately $221,000. 92.67% of the stock is owned by institutional investors.

General Motors Trading Down 1.6 %

Shares of General Motors stock opened at $47.79 on Thursday. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $47.55 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 0.69 and a beta of 1.40. The business has a fifty day simple moving average of $52.27 and a two-hundred day simple moving average of $49.94. General Motors has a 1 year low of $37.60 and a 1 year high of $61.24.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. Research analysts forecast that General Motors will post 11.41 EPS for the current year.

General Motors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, March 7th. General Motors’s payout ratio is 7.80%.

Analyst Upgrades and Downgrades

GM has been the subject of several research reports. UBS Group raised their price target on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. Sanford C. Bernstein raised their price target on shares of General Motors from $53.00 to $55.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Wedbush raised their price target on shares of General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 11th. Finally, DZ Bank cut shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target for the company. in a research note on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors currently has a consensus rating of “Hold” and an average target price of $61.28.

Insiders Place Their Bets

In related news, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $60.01, for a total value of $535,229.19. Following the transaction, the executive vice president now owns 8,513 shares in the company, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now directly owns 13,714 shares of the company’s stock, valued at $694,751.24. This trade represents a 700.12 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.72% of the company’s stock.

About General Motors

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.