NewEdge Advisors LLC Buys 13,528 Shares of General Motors Company $GM

Key Points

• NewEdge Advisors LLC increased its stake in General Motors by 21.2%, acquiring an additional 13,528 shares, bringing its total holdings to 77,311 shares valued at approximately $3.6 million.
• Major institutional investors, including AQR Capital Management and Vanguard Group, also significantly increased their positions in General Motors during the first quarter, with AQR boosting its stake by 146.8%.
• General Motors announced a quarterly dividend of $0.15 per share, leading to an annualized yield of 1.0%, and insiders sold over 1 million shares in the last quarter.

NewEdge Advisors LLC grew its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 21.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 77,311 shares of the auto manufacturer's stock after acquiring an additional 13,528 shares during the quarter. NewEdge Advisors LLC's holdings in General Motors were worth $3,636,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of General Motors by 146.8% during the 1st quarter. AQR Capital Management LLC now owns 13,470,258 shares of the auto manufacturer's stock worth $629,196,000 after purchasing an additional 8,012,743 shares during the period. Vanguard Group Inc. raised 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 purchasing an additional 6,395,375 shares in the last quarter. Nuveen LLC purchased a new stake in General Motors during the first quarter worth $175,889,000. Assenagon Asset Management S.A. raised its holdings in General Motors by 305.6% in the first quarter. Assenagon Asset Management S.A. now owns 2,858,959 shares of the auto manufacturer's stock worth $134,457,000 after purchasing an additional 2,154,037 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in 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 valued at $603,048,000 after acquiring an additional 1,910,186 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of General Motors from $59.00 to $61.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a report on Friday, July 11th. The Goldman Sachs Group restated a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Bank of America cut their price objective on shares of General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company boosted their target price on shares of General Motors from $34.00 to $38.00 and gave the company an "underweight" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, General Motors has a consensus rating of "Hold" and an average target price of $58.05.

Insider Buying and Selling

In other General Motors news, EVP Rory Harvey sold 23,977 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total transaction of $1,271,020.77. Following the transaction, the executive vice president directly owned 8,513 shares of the company's stock, valued at $451,274.13. This trade represents a 73.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Christopher Hatto sold 14,667 shares of the business's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total transaction of $865,353.00. Following the sale, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at $708,413. This represents a 54.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,070,311 shares of company stock valued at $62,095,433. 0.54% of the stock is owned by corporate insiders.

General Motors Price Performance

NYSE:GM opened at $58.08 on Wednesday. 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 company has a 50 day moving average price of $54.76 and a 200-day moving average price of $50.10. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.24. The firm has a market cap of $55.30 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 1.23 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings data 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 net margin of 2.54% and a return on equity of 12.98%. The business had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the prior year, the firm posted $3.06 earnings per share. The company's revenue 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. Equities research analysts forecast that General Motors Company will post 11.44 EPS for the current year.

General Motors Announces Dividend

The firm 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 $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 5th. General Motors's dividend payout ratio (DPR) is presently 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.

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