General Motors Company $GM Stock Holdings Lowered by State of Wyoming

State of Wyoming lessened its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 58.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 5,019 shares of the auto manufacturer’s stock after selling 6,937 shares during the quarter. State of Wyoming’s holdings in General Motors were worth $386,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Evergreen Advisors LLC acquired a new stake in General Motors in the first quarter valued at approximately $26,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of General Motors in the second quarter valued at approximately $31,000. Burk Holdings LLC acquired a new position in shares of General Motors during the 2nd quarter worth approximately $31,000. Premier Financial Group purchased a new position in shares of General Motors during the 2nd quarter valued at approximately $31,000. Finally, Elevation Wealth Partners LLC lifted its position in shares of General Motors by 70.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 464 shares of the auto manufacturer’s stock valued at $36,000 after buying an additional 192 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Cowen reissued a “buy” rating and issued a $132.00 price target on shares of General Motors in a report on Wednesday, October 21st. Morgan Stanley decreased their price objective on shares of General Motors from $101.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Wells Fargo & Company lifted their target price on shares of General Motors from $60.00 to $61.00 and gave the company an “underweight” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group upgraded shares of General Motors from a “hold” rating to a “buy” rating and lifted their target price for the company from $90.00 to $99.00 in a research report on Monday, July 27th. Finally, Truist Financial set a $105.00 target price on shares of General Motors in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

General Motors News Roundup

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: GM plans to add an AI “intelligence layer” to OnStar, potentially expanding the capabilities of its connected-vehicle services. GM adding an AI intelligence layer to OnStar
• Positive Sentiment: The automaker’s upcoming hybrid push will begin with large SUVs, broadening its powertrain options in a major vehicle segment. GM’s hybrid onslaught will start with its big SUVs
• Neutral Sentiment: A comparison with Ford says GM has the stronger operating profile, while Ford offers a larger dividend—a favorable operational comparison, but not a direct catalyst for near-term earnings. GM vs Ford comparison
• Neutral Sentiment: Zacks describes GM as a top-ranked value stock, though the article’s supplied details do not indicate a new earnings or business catalyst. Zacks on GM as a value stock
• Negative Sentiment: GM is facing a reported $220 million privacy settlement tied to driver data practices, creating a financial cost and renewed scrutiny of how the company handles connected-vehicle data. GM’s $220 million privacy settlement
• Negative Sentiment: Ohio is to receive $8 million from GM over sharing driver data, adding to the legal and reputational concerns around the company’s data practices. Ohio to get $8 million from GM

General Motors Stock Performance

NYSE GM opened at $88.34 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.09 and a quick ratio of 0.94. The stock’s 50 day simple moving average is $83.15 and its 200-day simple moving average is $80.69. The company has a market cap of $74.52 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. General Motors Company has a 1-year low of $66.75 and a 1-year high of $91.85.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, topping the consensus estimate of $3.69 by $0.01. General Motors had a return on equity of 19.36% and a net margin of 2.12%. The firm had revenue of $50.02 billion during the quarter, compared to analysts’ expectations of $48.78 billion. During the same period in the previous year, the business earned $2.80 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts anticipate that General Motors Company will post 13.38 EPS for the current fiscal year.

General Motors announced that its board has initiated a share buyback program on Tuesday, October 20th that allows the company to repurchase $20 billion in outstanding shares. This buyback authorization allows the auto manufacturer to repurchase up to 27.5% of its shares through open market purchases. Share buyback programs are typically a sign that the company’s management believes its shares are undervalued.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 4th. This represents a $0.72 dividend on an annualized basis and a yield of 0.8%. General Motors’s dividend payout ratio (DPR) is presently 16.51%.

About General Motors

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.