Alaska Permanent Fund Corp Raises Position in General Motors (NYSE:GM)

Alaska Permanent Fund Corp raised its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 2.0% during the fourth quarter, HoldingsChannel reports. The firm owned 65,718 shares of the auto manufacturer’s stock after purchasing an additional 1,318 shares during the period. Alaska Permanent Fund Corp’s holdings in General Motors were worth $2,361,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SouthState Corp raised its position in General Motors by 173.8% during the third quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. Highlander Capital Management LLC bought a new position in shares of General Motors during the fourth quarter valued at about $27,000. BluePath Capital Management LLC bought a new position in shares of General Motors during the third quarter valued at about $33,000. Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the fourth quarter valued at about $36,000. Finally, Venturi Wealth Management LLC grew its stake in shares of General Motors by 74.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock valued at $44,000 after buying an additional 525 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GM. Redburn Atlantic began coverage on General Motors in a research note on Wednesday, January 24th. They set a “neutral” rating and a $40.00 price objective on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research note on Tuesday. Morgan Stanley raised their price objective on General Motors from $43.00 to $46.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Wolfe Research upgraded General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Thursday, January 4th. Finally, Piper Sandler boosted their price target on General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, General Motors currently has an average rating of “Moderate Buy” and an average price target of $54.38.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $43.04, for a total value of $219,504.00. Following the sale, the executive vice president now owns 12,658 shares in the company, valued at approximately $544,800.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rory Harvey sold 5,100 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $43.04, for a total value of $219,504.00. Following the completion of the transaction, the executive vice president now directly owns 12,658 shares in the company, valued at $544,800.32. The disclosure for this sale can be found here. Insiders have sold 86,248 shares of company stock worth $3,614,078 in the last 90 days. Insiders own 0.54% of the company’s stock.

General Motors Stock Up 0.2 %

Shares of GM stock traded up $0.09 during midday trading on Thursday, reaching $45.17. 3,655,025 shares of the stock were exchanged, compared to its average volume of 17,374,465. General Motors has a 1 year low of $26.30 and a 1 year high of $46.04. The company’s 50 day moving average is $42.00 and its two-hundred day moving average is $36.12. The company has a current ratio of 1.16, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The firm has a market cap of $52.15 billion, a PE ratio of 5.51, a price-to-earnings-growth ratio of 0.53 and a beta of 1.51.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The firm had revenue of $43.01 billion for the quarter, compared to the consensus estimate of $41.09 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that General Motors will post 9.26 EPS for the current year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 annualized dividend and a dividend yield of 1.06%. General Motors’s payout ratio is currently 5.87%.

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.