Alliancebernstein L.P. Sells 139,938 Shares of General Motors Company $GM

Key Points

• Alliancebernstein L.P. reduced its stake in General Motors Company by 9.4%, owning approximately 1,355,601 shares after selling 139,938 shares during the first quarter.
• General Motors reported a quarterly revenue of $47.12 billion and earnings per share of $2.53, surpassing analyst estimates.
• The company declared a quarterly dividend of $0.15 per share, with an annualized dividend yield of 1.0%, to be paid on September 18th.

Alliancebernstein L.P. lowered its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,355,601 shares of the auto manufacturer's stock after selling 139,938 shares during the period. Alliancebernstein L.P. owned about 0.14% of General Motors worth $63,754,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Measured Risk Portfolios Inc. bought a new stake in shares of General Motors during the 4th quarter valued at about $27,000. Costello Asset Management INC purchased a new position in shares of General Motors in the first quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in General Motors during the first quarter valued at approximately $34,000. North Capital Inc. purchased a new stake in General Motors during the first quarter valued at approximately $40,000. Finally, Banque Transatlantique SA bought a new position in General Motors in the first quarter worth approximately $40,000. Institutional investors own 92.67% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GM shares. Piper Sandler reissued a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price target on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. CLSA upgraded General Motors to a "moderate buy" rating in a research report on Monday, July 7th. Barclays raised General Motors from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $55.00 to $73.00 in a research report on Friday. Finally, Industrial Alliance Securities set a $70.00 target price on shares of General Motors in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $59.00.

General Motors Price Performance

Shares of General Motors stock traded down $0.20 on Friday, hitting $58.51. 12,020,227 shares of the company traded hands, compared to its average volume of 6,148,473. General Motors Company has a 52 week low of $41.60 and a 52 week high of $61.24. The business has a 50-day simple moving average of $55.09 and a 200 day simple moving average of $50.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The stock has a market capitalization of $55.71 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released 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. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. Research analysts expect that General Motors Company will post 11.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

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

Insiders Place Their Bets

In other General Motors news, CEO Mary T. Barra sold 87,839 shares of General Motors stock in a transaction on Friday, August 29th. The shares were sold at an average price of $58.13, for a total value of $5,106,081.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Christopher Hatto sold 14,667 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction of $865,353.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares in the company, valued at approximately $708,413. This trade represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,070,311 shares of company stock valued at $62,095,433 in the last quarter. 0.54% of the stock is currently owned by insiders.

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.