Adage Capital Partners GP L.L.C. Has $15.67 Million Stock Holdings in General Motors Company $GM

Key Points

• Adage Capital Partners GP L.L.C. sold 694,300 shares of General Motors, reducing its stake by 67.6%, now holding 333,086 shares worth approximately $15.67 million.
• Insider sales include CEO Mary T. Barra, who sold 87,839 shares for over $5.1 million, with insiders having sold a total of 1,070,311 shares exceeding $62 million in value recently.
• General Motors announced a quarterly dividend of $0.15 per share, reflecting a 1.0% yield, with the ex-dividend date set for September 5th.

Adage Capital Partners GP L.L.C. lessened its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 67.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 333,086 shares of the auto manufacturer's stock after selling 694,300 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in General Motors were worth $15,665,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of GM. Vanguard Group Inc. increased its holdings in shares of General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock worth $4,672,023,000 after acquiring an additional 6,395,375 shares during the period. Nuveen LLC acquired a new stake in shares of General Motors in the 1st quarter worth about $175,889,000. Assenagon Asset Management S.A. increased its holdings in shares of General Motors by 305.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after acquiring an additional 2,154,037 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of General Motors by 17.5% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after acquiring an additional 1,910,186 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of General Motors in the 1st quarter worth about $86,900,000. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Benchmark assumed coverage on shares of General Motors in a research report on Monday, July 21st. They issued a "buy" rating and a $65.00 target price for the company. Mizuho increased their target price on shares of General Motors from $53.00 to $58.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Bank of America decreased their target price on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research report on Wednesday, July 23rd. Citigroup increased their target price on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.05.

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 907,024 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $58.24, for a total value of $52,825,077.76. Following the completion of the transaction, the chief executive officer directly owned 552,238 shares in the company, valued at $32,162,341.12. This trade represents a 62.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the completion of the transaction, the executive vice president owned 8,513 shares of the company's stock, valued at approximately $451,274.13. The trade was a 73.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,070,311 shares of company stock worth $62,095,433 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

General Motors Trading Down 1.2%

Shares of GM traded down $0.69 during midday trading on Wednesday, hitting $57.33. The stock had a trading volume of 4,563,209 shares, compared to its average volume of 11,356,259. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $61.24. The business has a 50-day simple moving average of $54.76 and a two-hundred day simple moving average of $50.10. The firm has a market cap of $54.58 billion, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 1.23 and a beta of 1.32. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, topping the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company had revenue of $47.12 billion during the quarter, compared to analysts' expectations of $45.87 billion. During the same period last year, the company posted $3.06 earnings per share. The business's revenue for the quarter was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, September 5th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 5th. General Motors's dividend payout ratio (DPR) is presently 9.52%.

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.