Wealth Enhancement Advisory Services LLC Raises Holdings in General Motors Company $GM

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in General Motors by 26.1%, owning 196,143 shares worth approximately $10.37 million after purchasing an additional 40,589 shares.
• Analysts have raised their price targets for GM, with Citigroup increasing theirs from $61.00 to $75.00 and Wedbush from $55.00 to $65.00, reflecting positive sentiment on the stock.
• General Motors reported earnings of $2.53 per share last quarter, surpassing analysts' estimates, but with a 1.8% year-over-year revenue decline to $47.12 billion.

Wealth Enhancement Advisory Services LLC lifted its holdings in shares of General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 26.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 196,143 shares of the auto manufacturer's stock after buying an additional 40,589 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in General Motors were worth $10,374,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Costello Asset Management INC purchased a new position in shares of General Motors during the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new position in shares of General Motors during the 1st quarter worth approximately $34,000. North Capital Inc. purchased a new position in shares of General Motors during the 1st quarter worth approximately $40,000. Banque Transatlantique SA purchased a new position in shares of General Motors during the 1st quarter worth approximately $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 in the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GM has been the subject of a number of analyst reports. Citigroup increased their target price on General Motors from $61.00 to $75.00 and gave the stock a "buy" rating in a research note on Monday. Wedbush raised their price objective on General Motors from $55.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, August 19th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of General Motors in a research note on Thursday, July 24th. Bank of America dropped their price objective on General Motors from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of General Motors in a research note on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, General Motors presently has a consensus rating of "Moderate Buy" and a consensus price target of $59.74.

General Motors Price Performance

Shares of NYSE:GM opened at $58.94 on Tuesday. General Motors Company has a one year low of $41.60 and a one year high of $61.24. The business's fifty day moving average price is $55.82 and its two-hundred day moving average price is $50.83. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.05 and a current ratio of 1.22. The stock has a market cap of $56.12 billion, a PE ratio of 9.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its quarterly earnings data on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share (EPS) for the quarter, topping 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 business had revenue of $47.12 billion for the quarter, compared to analysts' expectations of $45.87 billion. During the same quarter last year, the firm earned $3.06 earnings per share. The business's revenue was down 1.8% on a year-over-year basis. General Motors has set its FY 2025 guidance at 8.250-10.000 EPS. On average, analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

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

Insider Transactions at General Motors

In related news, CEO Mary T. Barra sold 29,486 shares of General Motors stock in a transaction on Friday, September 12th. The stock was sold at an average price of $59.92, for a total value of $1,766,801.12. Following the transaction, the chief executive officer owned 633,527 shares in the company, valued at approximately $37,960,937.84. This trade represents a 4.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christopher Hatto sold 14,667 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $59.00, for a total value of $865,353.00. Following the completion of the sale, the chief accounting officer directly owned 12,007 shares of the company's stock, valued at $708,413. The trade was a 54.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,104,256 shares of company stock worth $64,129,551 over the last quarter. 0.54% of the stock is currently owned by insiders.

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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