Capital World Investors Sells 22,218,452 Shares of General Motors (NYSE:GM)

Capital World Investors lowered its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 46.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,031,499 shares of the auto manufacturer's stock after selling 22,218,452 shares during the quarter. Capital World Investors owned about 2.62% of General Motors worth $1,386,850,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in General Motors during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new position in shares of General Motors during the fourth quarter worth $26,000. Compass Planning Associates Inc bought a new position in shares of General Motors during the fourth quarter worth $27,000. Duncker Streett & Co. Inc. increased its position in shares of General Motors by 9,960.0% in the 4th quarter. Duncker Streett & Co. Inc. now owns 503 shares of the auto manufacturer's stock valued at $27,000 after buying an additional 498 shares in the last quarter. Finally, Whittier Trust Co. raised its stake in General Motors by 551.9% during the 4th quarter. Whittier Trust Co. now owns 502 shares of the auto manufacturer's stock worth $27,000 after buying an additional 425 shares during the period. 92.67% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GM has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their target price on General Motors from $73.00 to $63.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Piper Sandler increased their target price on General Motors from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Thursday, March 20th. Cowen began coverage on shares of General Motors in a report on Thursday, March 6th. They set a "buy" rating on the stock. TD Cowen assumed coverage on shares of General Motors in a report on Friday, March 7th. They issued a "buy" rating and a $105.00 price target for the company. Finally, Barclays lowered shares of General Motors from an "overweight" rating to a "negative" rating in a research note on Tuesday, April 15th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $54.83.

General Motors Stock Performance

Shares of NYSE:GM traded up $1.04 on Thursday, hitting $46.88. The company had a trading volume of 4,091,477 shares, compared to its average volume of 13,900,466. The stock has a market cap of $46.65 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 0.67 and a beta of 1.27. The stock has a 50 day moving average price of $46.92 and a 200 day moving average price of $50.29. General Motors has a 1-year low of $38.96 and a 1-year high of $61.24. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last announced its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Analysts expect that General Motors will post 11.44 EPS for the current year.

General Motors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Friday, March 7th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.02%. The ex-dividend date was Friday, March 7th. General Motors's payout ratio is 7.80%.

General Motors declared that its board has approved a stock repurchase plan on Wednesday, February 26th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the auto manufacturer to purchase up to 12.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Transactions at General Motors

In related news, Director Alfred F. Kelly, Jr. acquired 12,000 shares of the stock in a transaction on Thursday, January 30th. The shares were purchased at an average price of $50.66 per share, for a total transaction of $607,920.00. Following the purchase, the director now directly owns 13,714 shares in the company, valued at approximately $694,751.24. The trade was a 700.12 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company's stock.

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.