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

Key Points

• GK Wealth Management LLC has decreased its stake in General Motors by 30.1%, holding 14,036 shares valued at $660,000 after selling 6,040 shares.
• Analyst ratings for General Motors are largely positive, with one Strong Buy, ten Buy, and two Sell ratings, and a consensus price target of $58.05.
• General Motors has recently announced a quarterly dividend of $0.15 per share, resulting in an annualized dividend of $0.60, with a dividend yield of 1.0%.

GK Wealth Management LLC cut its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 30.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 14,036 shares of the auto manufacturer's stock after selling 6,040 shares during the period. GK Wealth Management LLC's holdings in General Motors were worth $660,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GM. Measured Risk Portfolios Inc. acquired a new position in General Motors during the 4th quarter worth approximately $27,000. Costello Asset Management INC acquired a new position in General Motors during the 1st quarter worth approximately $32,000. WPG Advisers LLC acquired a new position in General Motors during the 1st quarter worth approximately $34,000. North Capital Inc. acquired a new position in General Motors during the 1st quarter worth approximately $40,000. Finally, Banque Transatlantique SA acquired a new position in General Motors during the 1st quarter worth approximately $40,000. 92.67% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. The Goldman Sachs Group reiterated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a research note on Friday, July 11th. Citigroup lifted their price target on shares of General Motors from $59.00 to $61.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada restated an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Finally, Mizuho lifted their price target on shares of General Motors from $53.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and an average price target of $58.05.

General Motors Stock Performance

GM stock opened at $57.33 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.05 and a debt-to-equity ratio of 1.42. The firm has a market cap of $54.58 billion, a P/E ratio of 9.10, a P/E/G ratio of 1.22 and a beta of 1.32. General Motors Company has a 12-month low of $41.60 and a 12-month high of $61.24. The stock's 50 day simple moving average is $54.86 and its 200 day simple moving average is $50.15.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. The business had revenue of $47.12 billion for 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 business's revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities research analysts predict that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

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

Insider Activity at General Motors

In related news, CEO Mary T. Barra sold 87,839 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $58.13, for a total transaction of $5,106,081.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Christopher Hatto sold 14,667 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $59.00, for a total value of $865,353.00. Following the sale, the chief accounting officer directly owned 12,007 shares in the company, valued at approximately $708,413. This represents a 54.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,070,311 shares of company stock valued at $62,095,433. Corporate insiders own 0.54% of the company's stock.

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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