General Motors Company $GM Shares Sold by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC significantly reduced its stake in General Motors by 79%, now holding 7,256 shares valued at approximately $357,000.
• General Motors reported a quarterly earnings per share of $2.53, slightly above analysts' expectations, with revenue totaling $47.12 billion, although down 1.8% year-over-year.
• Institutional investors own 92.67% of General Motors stock, indicating strong institutional interest in the company.

Axxcess Wealth Management LLC trimmed its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 79.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,256 shares of the auto manufacturer's stock after selling 27,290 shares during the quarter. Axxcess Wealth Management LLC's holdings in General Motors were worth $357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in GM. Trust Co. of Toledo NA OH acquired a new stake in General Motors in the 2nd quarter valued at approximately $25,000. GFG Capital LLC acquired a new stake in General Motors in the 2nd quarter valued at approximately $27,000. RMG Wealth Management LLC acquired a new stake in General Motors in the 2nd quarter valued at approximately $32,000. Costello Asset Management INC acquired a new stake in General Motors in the 1st quarter valued at approximately $32,000. Finally, WPG Advisers LLC acquired a new stake in General Motors in the 1st quarter valued at approximately $34,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 1.9%

Shares of General Motors stock opened at $58.40 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42. The firm has a market cap of $55.60 billion, a price-to-earnings ratio of 9.27, a price-to-earnings-growth ratio of 1.72 and a beta of 1.33. The business has a fifty day simple moving average of $58.05 and a 200-day simple moving average of $52.10. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $62.14.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share 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 analyst estimates of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company's revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, equities analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Friday, September 5th were given a $0.15 dividend. The ex-dividend date was Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. General Motors's dividend payout ratio (DPR) is 9.52%.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $53.01, for a total value of $1,271,020.77. Following the completion of the transaction, the executive vice president owned 8,513 shares in the company, valued at $451,274.13. This trade represents a 73.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Mark L. Reuss sold 136,161 shares of the stock in a transaction on Thursday, September 25th. The shares were sold at an average price of $60.12, for a total value of $8,185,999.32. Following the completion of the transaction, the president owned 131,036 shares of the company's stock, valued at $7,877,884.32. This trade represents a 50.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,074,824 shares of company stock worth $122,377,213. Company insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

GM has been the topic of several analyst reports. Wedbush restated an "outperform" rating and issued a $65.00 target price on shares of General Motors in a research report on Thursday. Citigroup raised their target price on General Motors from $61.00 to $75.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. Wells Fargo & Company raised their target price on General Motors from $38.00 to $40.00 and gave the company an "underweight" rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised their target price on General Motors from $60.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday, September 30th. Finally, Benchmark initiated coverage on General Motors in a research report on Monday, July 21st. They set a "buy" rating and a $65.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.00.

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.

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