Sterneck Capital Management LLC Boosts Holdings in General Motors Company $GM

Key Points

• Sterneck Capital Management LLC increased its stake in General Motors Company by 43.0%, owning 19,190 shares valued at approximately $944,000 by the end of the second quarter.
• General Motors reported earnings of $2.53 per share for the last quarter, exceeding analysts' expectations, with a revenue of $47.12 billion, despite a 1.8% year-over-year decline.
• The company declared a $0.15 quarterly dividend with a 1.0% yield and a payout ratio of 9.52%, reflecting its ongoing commitment to returning value to shareholders.

Sterneck Capital Management LLC grew its position in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 43.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,190 shares of the auto manufacturer's stock after purchasing an additional 5,766 shares during the period. Sterneck Capital Management LLC's holdings in General Motors were worth $944,000 at the end of the most recent quarter.

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

General Motors Trading Up 1.1%

Shares of GM stock opened at $61.24 on Friday. The business has a 50-day moving average of $56.38 and a 200 day moving average of $51.14. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.22 and a quick ratio of 1.05. General Motors Company has a 1-year low of $41.60 and a 1-year high of $61.98. The stock has a market capitalization of $58.31 billion, a PE ratio of 9.72, a P/E/G ratio of 1.29 and a beta of 1.32.

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. The firm had revenue of $47.12 billion during the quarter, compared to the consensus estimate of $45.87 billion. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The business's revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.06 earnings per share. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. As a group, sell-side analysts anticipate that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

Insider Activity

In related news, CEO Mary T. Barra sold 907,024 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 552,238 shares of the company's stock, valued at $32,162,341.12. This trade represents a 62.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Christopher Hatto sold 36,804 shares of the business's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the transaction, the chief accounting officer owned 12,007 shares in the company, valued at approximately $661,585.70. This represents a 75.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,044,824 shares of company stock worth $120,540,709 over the last ninety days. 0.54% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. The Goldman Sachs Group reissued a "buy" rating on shares of General Motors in a research note on Friday, July 11th. Citigroup upped their target price on shares of General Motors from $61.00 to $75.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Bank of America lowered their price target on General Motors from $65.00 to $62.00 and set a "buy" rating on the stock in a research report on Wednesday, July 23rd. Barclays upgraded General Motors from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $55.00 to $73.00 in a report on Friday, September 12th. Finally, JPMorgan Chase & Co. raised their price objective on General Motors from $56.00 to $60.00 and gave the company an "overweight" rating in a report on Monday, July 21st. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, General Motors presently has an average rating of "Moderate Buy" and an average price target of $61.53.

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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