Mediolanum International Funds Ltd Sells 138,426 Shares of General Motors Company (NYSE:GM)

Key Points

• Mediolanum International Funds Ltd significantly reduced its stake in General Motors by 86.2%, selling 138,426 shares, and now holds only 22,241 shares worth about $1,038,000.
• General Motors shares recently traded at $52.13 with a market capitalization of $49.63 billion, showing a 1.8% decline in revenue compared to the same quarter last year.
• The company declared a quarterly dividend of $0.15, representing a 1.15% annual yield, with the payout ratio at 9.52%.

Mediolanum International Funds Ltd trimmed its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 86.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 22,241 shares of the auto manufacturer's stock after selling 138,426 shares during the quarter. Mediolanum International Funds Ltd's holdings in General Motors were worth $1,038,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GM. Nemes Rush Group LLC lifted its position in General Motors by 18.7% in the fourth quarter. Nemes Rush Group LLC now owns 1,379 shares of the auto manufacturer's stock valued at $73,000 after purchasing an additional 217 shares during the last quarter. Operose Advisors LLC raised its holdings in General Motors by 18.7% during the 4th quarter. Operose Advisors LLC now owns 1,413 shares of the auto manufacturer's stock valued at $75,000 after buying an additional 223 shares during the last quarter. Bessemer Group Inc. raised its holdings in General Motors by 0.4% during the 4th quarter. Bessemer Group Inc. now owns 53,619 shares of the auto manufacturer's stock valued at $2,856,000 after buying an additional 226 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in General Motors by 0.3% during the 1st quarter. Hohimer Wealth Management LLC now owns 70,377 shares of the auto manufacturer's stock valued at $3,310,000 after buying an additional 230 shares during the period. Finally, Aaron Wealth Advisors LLC grew its holdings in General Motors by 3.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 6,709 shares of the auto manufacturer's stock worth $316,000 after acquiring an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 92.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein set a $36.00 target price on shares of General Motors in a report on Monday, May 5th. Wedbush reaffirmed an "outperform" rating and set a $55.00 price target on shares of General Motors in a research report on Wednesday, July 23rd. Piper Sandler reissued a "neutral" rating and set a $48.00 target price (up from $43.00) on shares of General Motors in a research note on Thursday, May 22nd. CLSA upgraded General Motors to a "moderate buy" rating in a report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of General Motors from a "buy" rating to a "hold" rating and set a $43.00 price target on the stock. in a report on Monday, April 14th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $56.35.

General Motors Price Performance

GM traded down $1.03 on Friday, hitting $52.31. 3,670,098 shares of the company's stock traded hands, compared to its average volume of 12,248,652. The company's 50 day simple moving average is $50.47 and its 200-day simple moving average is $48.80. 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 one year low of $38.96 and a one year high of $61.24. The firm has a market cap of $49.80 billion, a price-to-earnings ratio of 8.31, a P/E/G ratio of 1.10 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.52 by $0.01. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The firm had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter last year, the business posted $3.06 earnings per share. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that General Motors Company will post 11.44 EPS for the current year.

General Motors Dividend Announcement

The business 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio is 9.52%.

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.