Vanguard Group Inc. Cuts Stock Holdings in General Motors (NYSE:GM)

Vanguard Group Inc. cut its position in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,945,961 shares of the auto manufacturer’s stock after selling 1,421,201 shares during the period. Vanguard Group Inc. owned 9.34% of General Motors worth $4,951,231,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC grew its holdings in General Motors by 8.5% in the fourth quarter. LPL Financial LLC now owns 640,491 shares of the auto manufacturer’s stock valued at $34,119,000 after purchasing an additional 50,031 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in General Motors in the 4th quarter valued at $28,298,000. Knights of Columbus Asset Advisors LLC increased its holdings in General Motors by 1.9% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 189,240 shares of the auto manufacturer’s stock worth $10,081,000 after acquiring an additional 3,579 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in General Motors by 4.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 16,750 shares of the auto manufacturer’s stock worth $892,000 after acquiring an additional 700 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new position in General Motors in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

General Motors Stock Up 3.3 %

NYSE:GM opened at $51.47 on Tuesday. General Motors has a 52 week low of $38.96 and a 52 week high of $61.24. The stock’s fifty day moving average is $49.05 and its two-hundred day moving average is $50.51. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last released its earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share for the quarter, beating 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 anticipate that General Motors will post 11.44 EPS for the current year.

General Motors announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to reacquire up to 12.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

General Motors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 0.93%. General Motors’s dividend payout ratio (DPR) is presently 7.80%.

Insider Buying and Selling at General Motors

In related news, Director Alfred F. Kelly, Jr. purchased 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the acquisition, the director now directly owns 13,714 shares in the company, valued at $694,751.24. This trade represents a 700.12 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GM has been the subject of several research reports. Piper Sandler boosted their price target on General Motors from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, March 20th. Hsbc Global Res cut shares of General Motors from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 11th. StockNews.com downgraded shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho increased their price objective on shares of General Motors from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Morgan Stanley upgraded General Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $46.00 to $54.00 in a report on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.06.

General Motors Company 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.