abrdn plc Purchases 210,009 Shares of General Motors (NYSE:GM)

abrdn plc grew its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 54.3% in the 4th quarter, HoldingsChannel reports. The firm owned 596,575 shares of the auto manufacturer’s stock after acquiring an additional 210,009 shares during the quarter. abrdn plc’s holdings in General Motors were worth $21,429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Highlander Capital Management LLC bought a new position in shares of General Motors during the 4th quarter valued at $27,000. SouthState Corp boosted 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 buying an additional 485 shares during the period. Tennessee Valley Asset Management Partners bought a new position in shares of General Motors during the fourth quarter valued at about $36,000. BluePath Capital Management LLC bought a new position in shares of General Motors during the third quarter valued at about $33,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of General Motors by 74.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,229 shares of the auto manufacturer’s stock valued at $44,000 after acquiring an additional 525 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on GM shares. The Goldman Sachs Group raised their price target on General Motors from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Barclays lifted their target price on shares of General Motors from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company increased their price target on shares of General Motors from $27.00 to $28.00 and gave the company an “underweight” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of General Motors from $44.00 to $50.00 and gave the company a “hold” rating in a research report on Tuesday. Finally, Wolfe Research upgraded shares of General Motors from a “peer perform” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, General Motors has a consensus rating of “Moderate Buy” and a consensus price target of $52.52.

Insider Buying and Selling at General Motors

In other news, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $40.02, for a total value of $620,710.20. Following the sale, the chief accounting officer now directly owns 21,507 shares of the company’s stock, valued at $860,710.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CAO Christopher Hatto sold 15,510 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were 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 approximately $860,710.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gerald Johnson sold 27,122 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now owns 71,506 shares of the company’s stock, valued at $3,236,361.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.54% of the stock is owned by insiders.

General Motors Stock Performance

Shares of General Motors stock opened at $45.10 on Wednesday. General Motors has a 12 month low of $26.30 and a 12 month high of $46.04. The firm has a market capitalization of $52.06 billion, a P/E ratio of 6.17, a P/E/G ratio of 0.51 and a beta of 1.51. 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 business has a fifty day simple moving average of $41.86 and a two-hundred day simple moving average of $36.06.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 5.89% and a return on equity of 14.34%. General Motors’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.21 EPS. On average, equities analysts forecast that General Motors will post 9.12 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is presently 6.57%.

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.