General Motors Company (NYSE:GM) Holdings Decreased by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in General Motors by 6.7% in the first quarter, owning 211,300 shares valued at approximately $9.9 million.
• General Motors reported earnings of $2.53 per share, slightly exceeding analysts' expectations, with quarterly revenue totaling $47.12 billion, though down 1.8% year-over-year.
• The company declared a quarterly dividend of $0.15 per share, representing a 1.1% annual dividend yield, with an upcoming payout date set for September 18th.

Forsta AP Fonden reduced its stake in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,300 shares of the auto manufacturer's stock after selling 15,200 shares during the quarter. Forsta AP Fonden's holdings in General Motors were worth $9,937,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in General Motors by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,834,503 shares of the auto manufacturer's stock worth $86,277,000 after buying an additional 66,259 shares during the last quarter. Deutsche Bank AG grew its stake in General Motors by 2.3% during the 1st quarter. Deutsche Bank AG now owns 4,380,940 shares of the auto manufacturer's stock worth $206,036,000 after buying an additional 96,490 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of General Motors by 25.2% in the first quarter. Chicago Partners Investment Group LLC now owns 13,457 shares of the auto manufacturer's stock worth $612,000 after purchasing an additional 2,707 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of General Motors in the first quarter worth $5,757,000. Finally, Fi3 FINANCIAL ADVISORS LLC grew its stake in shares of General Motors by 40.3% in the first quarter. Fi3 FINANCIAL ADVISORS LLC now owns 6,231 shares of the auto manufacturer's stock worth $293,000 after purchasing an additional 1,790 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Up 1.1%

Shares of General Motors stock opened at $53.52 on Friday. The stock has a 50-day moving average price of $50.95 and a 200 day moving average price of $48.82. The company has a market cap of $50.96 billion, a P/E ratio of 8.50, a P/E/G ratio of 1.13 and a beta of 1.36. 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 Company has a 1 year low of $41.60 and a 1 year high of $61.24.

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 for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $45.87 billion. During the same period last year, the business earned $3.06 EPS. The business's quarterly revenue was down 1.8% on a year-over-year basis. As a group, analysts expect that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Friday, September 5th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is presently 9.52%.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. This trade represents a 73.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Wedbush reissued an "outperform" rating and issued a $55.00 price target on shares of General Motors in a research note on Wednesday, July 23rd. Barclays increased their price target 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. Industrial Alliance Securities set a $70.00 price target on General Motors in a research note on Friday, July 11th. Finally, 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 research note on Thursday, May 22nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $57.53.

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.

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