AE Wealth Management LLC Buys 9,711 Shares of General Motors Company (NYSE:GM)

AE Wealth Management LLC boosted its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 42.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,523 shares of the auto manufacturer's stock after purchasing an additional 9,711 shares during the quarter. AE Wealth Management LLC's holdings in General Motors were worth $1,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in General Motors in the fourth quarter worth about $592,321,000. Assenagon Asset Management S.A. boosted its holdings in General Motors by 305.6% in the first 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 in the last quarter. AustralianSuper Pty Ltd boosted its holdings in General Motors by 38.9% in the first quarter. AustralianSuper Pty Ltd now owns 6,111,582 shares of the auto manufacturer's stock worth $287,428,000 after acquiring an additional 1,712,033 shares in the last quarter. National Bank of Canada FI boosted its holdings in General Motors by 54.4% in the fourth quarter. National Bank of Canada FI now owns 3,352,523 shares of the auto manufacturer's stock worth $178,593,000 after acquiring an additional 1,180,936 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in General Motors by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 29,273,136 shares of the auto manufacturer's stock worth $1,559,380,000 after acquiring an additional 1,170,816 shares in the last quarter. Institutional investors own 92.67% of the company's stock.

General Motors Stock Up 2.0%

General Motors stock opened at $53.38 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. General Motors Company has a 52 week low of $38.96 and a 52 week high of $61.24. The business's 50-day moving average price is $50.23 and its 200 day moving average price is $48.72. The firm has a market cap of $50.82 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 1.13 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%. The company had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. During the same period last year, the company earned $3.06 earnings per share. General Motors's quarterly revenue was down 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed 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 yield of 1.12%. The ex-dividend date is Friday, September 5th. General Motors's payout ratio is currently 9.52%.

Wall Street Analysts Forecast Growth

GM has been the subject of several recent analyst reports. Piper Sandler reissued a "neutral" rating and issued a $48.00 price target (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. CLSA upgraded General Motors to a "moderate buy" rating in a research note on Monday, July 7th. BNP Paribas upgraded General Motors to a "strong-buy" rating in a research note on Monday, May 5th. Barclays raised their price objective on General Motors from $45.00 to $55.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Benchmark began coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 price objective for the company. Four analysts have rated the stock with a sell rating, ten have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $56.35.

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.

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