ZWJ Investment Counsel Inc. Trims Stock Holdings in General Motors Company $GM

Key Points

• ZWJ Investment Counsel Inc. reduced its holdings in General Motors Company by 3.2%, owning 365,974 shares after selling 12,147 shares, valued at approximately $18 million.
• General Motors recently reported a quarterly EPS of $2.53, beating estimates slightly, but noted a revenue decline of 1.8% year-over-year.
• The company declared a quarterly dividend of $0.15, representing an annualized yield of 1.0% with a payout ratio of 9.52% following the payment date.

ZWJ Investment Counsel Inc. trimmed its position in General Motors Company (NYSE:GM - Free Report) TSE: GMM.U by 3.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 365,974 shares of the auto manufacturer's stock after selling 12,147 shares during the period. ZWJ Investment Counsel Inc.'s holdings in General Motors were worth $18,010,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GM. Costello Asset Management INC purchased a new stake in General Motors in the first quarter worth $32,000. WPG Advisers LLC purchased a new stake in shares of General Motors in the first quarter worth $34,000. North Capital Inc. purchased a new stake in shares of General Motors in the first quarter worth $40,000. Banque Transatlantique SA purchased a new stake in shares of General Motors in the first quarter worth $40,000. Finally, SouthState Corp grew its stake in shares of General Motors by 914.4% in the first quarter. SouthState Corp now owns 984 shares of the auto manufacturer's stock worth $46,000 after acquiring an additional 887 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Stock Up 1.2%

GM stock opened at $60.07 on Friday. General Motors Company has a fifty-two week low of $41.60 and a fifty-two week high of $62.14. The business's 50-day moving average is $57.22 and its two-hundred day moving average is $51.54. 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 company has a market cap of $57.19 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 1.25 and a beta of 1.33.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last posted its earnings results on Tuesday, July 22nd. The auto manufacturer reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.52 by $0.01. General Motors had a return on equity of 12.98% and a net margin of 2.54%.The company had revenue of $47.12 billion for the quarter, compared to the consensus estimate of $45.87 billion. During the same quarter in the prior year, the company earned $3.06 earnings per share. General Motors'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. As a group, analysts forecast that General Motors Company will post 11.44 earnings per share for the current year.

General Motors Announces Dividend

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

Insider Buying and Selling

In other General Motors news, President Mark L. Reuss sold 136,161 shares of the company's stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $60.12, for a total value of $8,185,999.32. Following the completion of the sale, the president owned 131,036 shares in the company, valued at $7,877,884.32. This represents a 50.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Christopher Hatto sold 23,400 shares of the company's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $61.01, for a total value of $1,427,634.00. Following the completion of the sale, the chief accounting officer owned 12,007 shares of the company's stock, valued at approximately $732,547.07. The trade was a 66.09% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,074,824 shares of company stock worth $122,377,213. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Benchmark assumed coverage on General Motors in a research note on Monday, July 21st. They issued a "buy" rating and a $65.00 target price on the stock. Industrial Alliance Securities set a $70.00 target price on General Motors in a research note on Friday, July 11th. Wells Fargo & Company increased their target price on General Motors from $38.00 to $40.00 and gave the stock an "underweight" rating in a research note on Friday. JPMorgan Chase & Co. increased their target price on General Motors from $60.00 to $80.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, The Goldman Sachs Group increased their target price on General Motors from $70.00 to $74.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, General Motors currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.26.

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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