State of Alaska Department of Revenue Lowers Stock Position in General Motors Company $GM

Key Points

• The State of Alaska Department of Revenue has reduced its holdings in General Motors Company by 4.9%, owning 168,807 shares worth approximately $8.3 million after selling 8,605 shares in the second quarter.
• Insider transactions have seen CEO Mary T. Barra and President Mark L. Reuss significantly decreasing their stock holdings, with Barra selling 753,720 shares and Reuss selling 136,161 shares within two days.
• Research analysts have a consensus recommendation of "Moderate Buy" for General Motors, with a target price averaging $61.53 and several firms raising their price targets recently.

State of Alaska Department of Revenue lowered its holdings in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 4.9% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,807 shares of the auto manufacturer's stock after selling 8,605 shares during the period. State of Alaska Department of Revenue's holdings in General Motors were worth $8,306,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Costello Asset Management INC acquired a new position in shares of General Motors in the 1st quarter valued at $32,000. WPG Advisers LLC purchased a new stake in shares of General Motors in the first quarter valued at about $34,000. North Capital Inc. purchased a new stake in General Motors in the 1st quarter valued at approximately $40,000. Banque Transatlantique SA purchased a new stake in General Motors during the first quarter worth about $40,000. Finally, SouthState Corp raised its stake in shares of General Motors by 914.4% during the 1st quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock worth $46,000 after buying an additional 887 shares during the last quarter. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research report on Thursday, July 24th. Bank of America reduced their price objective 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 General Motors in a research report on Monday, July 21st. They issued a "buy" rating and a $65.00 price target for the company. Mizuho increased their target price on shares of General Motors from $58.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 23rd. Finally, Barclays raised General Motors from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $55.00 to $73.00 in a research report on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $61.53.

General Motors Stock Up 1.1%

NYSE:GM opened at $61.24 on Friday. The stock has a 50-day moving average price of $56.38 and a two-hundred day moving average price of $51.14. 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 $61.98. The stock has a market cap of $58.31 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.29 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last issued its quarterly earnings results 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. The firm had revenue of $47.12 billion for the quarter, compared to analyst estimates of $45.87 billion. General Motors had a net margin of 2.54% and a return on equity of 12.98%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.06 EPS. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, equities analysts expect that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Friday, September 5th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. General Motors's payout ratio is currently 9.52%.

Insider Buying and Selling

In other General Motors news, CEO Mary T. Barra sold 753,720 shares of the company's stock in a transaction dated Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total value of $45,185,514.00. Following the sale, the chief executive officer owned 433,527 shares in the company, valued at approximately $25,989,943.65. The trade was a 63.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, President Mark L. Reuss sold 136,161 shares of the business's stock in a transaction on 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 owned 131,036 shares in the company, valued at $7,877,884.32. The trade was a 50.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,044,824 shares of company stock worth $120,540,709. 0.54% of the stock is owned by corporate insiders.

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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