abrdn plc Has $40.87 Million Stake in General Motors (NYSE:GM)

abrdn plc cut its holdings in General Motors (NYSE:GM) (TSE:GMM.U) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 914,440 shares of the auto manufacturer’s stock after selling 394,911 shares during the quarter. abrdn plc owned about 0.08% of General Motors worth $40,871,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of GM. Strategic Investment Solutions Inc. IL bought a new stake in shares of General Motors in the 2nd quarter valued at about $25,000. Wellington Shields Capital Management LLC acquired a new position in General Motors during the second quarter valued at approximately $28,000. Fortitude Family Office LLC raised its holdings in General Motors by 56.1% in the second quarter. Fortitude Family Office LLC now owns 626 shares of the auto manufacturer’s stock worth $29,000 after purchasing an additional 225 shares during the period. Montag A & Associates Inc. bought a new position in shares of General Motors during the first quarter worth $30,000. Finally, EdgeRock Capital LLC bought a new position in shares of General Motors during the second quarter worth $33,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

Insider Activity

In related news, CEO Mary T. Barra sold 506,824 shares of General Motors stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $53.33, for a total transaction of $27,028,923.92. Following the completion of the sale, the chief executive officer now owns 694,548 shares of the company’s stock, valued at approximately $37,040,244.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other General Motors news, CEO Mary T. Barra sold 506,824 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $53.33, for a total value of $27,028,923.92. Following the transaction, the chief executive officer now directly owns 694,548 shares of the company’s stock, valued at $37,040,244.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Rory Harvey sold 2,302 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $47.31, for a total transaction of $108,907.62. Following the completion of the transaction, the executive vice president now owns 10,356 shares in the company, valued at $489,942.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 531,228 shares of company stock valued at $28,267,714 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

General Motors Stock Up 0.8 %

General Motors stock opened at $51.96 on Thursday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.21 and a quick ratio of 0.99. The company’s 50-day moving average is $48.17 and its 200-day moving average is $46.37. The firm has a market capitalization of $57.14 billion, a PE ratio of 5.54, a P/E/G ratio of 0.60 and a beta of 1.42. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $54.29.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 22nd. The auto manufacturer reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.47. General Motors had a return on equity of 16.30% and a net margin of 6.06%. The firm had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. During the same quarter in the prior year, the company earned $2.28 earnings per share. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that General Motors will post 10.05 earnings per share for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, December 6th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 annualized dividend and a dividend yield of 0.92%. General Motors’s dividend payout ratio is currently 5.12%.

Analyst Ratings Changes

GM has been the topic of several research analyst reports. Wedbush raised their price objective on General Motors from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. UBS Group lifted their price objective on General Motors from $58.00 to $62.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Nomura cut General Motors from a “neutral” rating to a “reduce” rating and set a $34.00 target price for the company. in a research note on Monday, August 5th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Sanford C. Bernstein upped their price target on shares of General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $56.92.

General Motors 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.