OneAscent Investment Solutions LLC Makes New Investment in General Motors Company (NYSE:GM)

Key Points

• OneAscent Investment Solutions LLC has acquired a new position in General Motors Company, purchasing 4,535 shares valued at approximately $213,000 during the first quarter.
• Multiple analysts have updated their price targets for GM, with Piper Sandler setting a new target of $48.00, while Bank of America lowered its target from $65.00 to $62.00, maintaining a "buy" rating.
• General Motors announced a quarterly dividend of $0.15 per share, representing a yield of 1.1%, set to be paid on September 18th to stockholders of record.

OneAscent Investment Solutions LLC purchased a new position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,535 shares of the auto manufacturer's stock, valued at approximately $213,000.

Several other hedge funds also recently modified their holdings of GM. Brighton Jones LLC increased its holdings in shares of General Motors by 456.1% during the fourth quarter. Brighton Jones LLC now owns 38,717 shares of the auto manufacturer's stock worth $2,062,000 after buying an additional 31,755 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of General Motors by 5.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 119,754 shares of the auto manufacturer's stock worth $6,372,000 after buying an additional 6,558 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in shares of General Motors during the fourth quarter worth approximately $382,000. Cohen & Steers Inc. increased its holdings in shares of General Motors by 5.3% during the fourth quarter. Cohen & Steers Inc. now owns 6,837 shares of the auto manufacturer's stock worth $364,000 after buying an additional 345 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in shares of General Motors by 46.8% during the fourth quarter. CreativeOne Wealth LLC now owns 12,735 shares of the auto manufacturer's stock worth $678,000 after buying an additional 4,062 shares in the last quarter. Institutional investors and hedge funds own 92.67% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on GM shares. Piper Sandler reaffirmed a "neutral" rating and set a $48.00 price objective (up previously from $43.00) on shares of General Motors in a report on Thursday, May 22nd. Industrial Alliance Securities set a $70.00 price target on shares of General Motors in a report on Friday, July 11th. Bank of America lowered their price target on shares of General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Benchmark assumed coverage on shares of General Motors in a report on Monday, July 21st. They issued a "buy" rating and a $65.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $57.53.

Insider Buying and Selling at General Motors

In related news, EVP Rory Harvey sold 23,977 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $53.01, for a total value of $1,271,020.77. Following the sale, the executive vice president directly owned 8,513 shares of the company's stock, valued at approximately $451,274.13. The trade was a 73.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

General Motors Trading Up 2.7%

Shares of NYSE GM opened at $55.63 on Thursday. The company's fifty day moving average is $51.34 and its 200-day moving average is $48.86. The stock has a market cap of $52.96 billion, a price-to-earnings ratio of 8.83, a P/E/G ratio of 1.15 and a beta of 1.36. General Motors Company has a twelve month low of $41.60 and a twelve month high of $61.24. The company has a quick ratio of 1.05, a current ratio of 1.22 and a debt-to-equity ratio of 1.42.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced 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. The company had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The business's quarterly revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $3.06 earnings per share. 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. Stockholders of record on Friday, September 5th will be given a dividend of $0.15 per share. 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 currently 9.52%.

General Motors 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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