Merit Financial Group LLC Has $4.25 Million Stock Holdings in General Motors Company $GM

Key Points

• Merit Financial Group LLC increased its stake in General Motors by 18.1%, owning 86,291 shares worth approximately $4.25 million as of its latest SEC filing.
• General Motors reported earnings of $2.53 per share for the last quarter, surpassing estimates and generating revenue of $47.12 billion, which was 1.8% lower than the same quarter last year.
• The company declared a quarterly dividend of $0.15 per share, resulting in an annualized yield of **1.0%**, with a low dividend payout ratio of 9.52%.

Merit Financial Group LLC boosted its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 18.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,291 shares of the auto manufacturer's stock after purchasing an additional 13,223 shares during the quarter. Merit Financial Group LLC's holdings in General Motors were worth $4,246,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of General Motors by 6.9% in the 1st quarter. Vanguard Group Inc. now owns 99,341,336 shares of the auto manufacturer's stock valued at $4,672,023,000 after buying an additional 6,395,375 shares during the period. Dimensional Fund Advisors LP lifted its holdings in General Motors by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 14,383,079 shares of the auto manufacturer's stock worth $676,322,000 after acquiring an additional 316,196 shares in the last quarter. Invesco Ltd. grew its stake in General Motors by 4.5% in the first quarter. Invesco Ltd. now owns 13,746,152 shares of the auto manufacturer's stock valued at $646,482,000 after acquiring an additional 594,217 shares during the period. AQR Capital Management LLC increased its holdings in shares of General Motors by 146.8% in the first quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after acquiring an additional 8,012,743 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its position in shares of General Motors by 17.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 12,822,632 shares of the auto manufacturer's stock worth $603,048,000 after purchasing an additional 1,910,186 shares during the period. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Down 3.3%

Shares of NYSE:GM opened at $58.17 on Tuesday. The company's 50-day moving average price is $57.31 and its two-hundred day moving average price is $51.63. General Motors Company has a one year low of $41.60 and a one year high of $62.14. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. The stock has a market capitalization of $55.38 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 1.27 and a beta of 1.33.

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. 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 analysts' expectations of $45.87 billion. During the same quarter last year, the company earned $3.06 EPS. General Motors's revenue for the quarter was down 1.8% compared to the same quarter last year. 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 disclosed a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Friday, September 5th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, September 5th. General Motors's dividend payout ratio is presently 9.52%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on GM. Benchmark initiated coverage on General Motors in a research note on Monday, July 21st. They set a "buy" rating and a $65.00 target price for the company. Barclays raised shares of General Motors from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $55.00 to $73.00 in a research report on Friday, September 12th. The Goldman Sachs Group boosted their price objective on shares of General Motors from $70.00 to $74.00 and gave the company a "buy" rating in a research report on Monday, September 29th. JPMorgan Chase & Co. increased their target price on General Motors from $60.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, September 30th. Finally, Industrial Alliance Securities set a $70.00 price target on General Motors in a report on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.85.

Insider Activity

In other news, President Mark L. Reuss sold 136,161 shares of the business's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $60.12, for a total transaction of $8,185,999.32. Following the transaction, the president directly owned 131,036 shares in the company, valued at $7,877,884.32. The trade was a 50.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mary T. Barra sold 907,024 shares of the business's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $58.24, for a total value of $52,825,077.76. Following the transaction, the chief executive officer directly owned 552,238 shares in the company, valued at approximately $32,162,341.12. This trade represents a 62.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,074,824 shares of company stock valued at $122,377,213 over the last three months. 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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