Cetera Investment Advisers Trims Position in General Motors Company $GM

Cetera Investment Advisers cut its stake in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 5.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 260,396 shares of the auto manufacturer’s stock after selling 13,562 shares during the period. Cetera Investment Advisers’ holdings in General Motors were worth $12,814,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GM. Sowell Financial Services LLC increased its holdings in General Motors by 2.9% during the 2nd quarter. Sowell Financial Services LLC now owns 6,834 shares of the auto manufacturer’s stock worth $336,000 after acquiring an additional 195 shares during the period. Mayflower Financial Advisors LLC increased its holdings in shares of General Motors by 4.1% in the second quarter. Mayflower Financial Advisors LLC now owns 5,163 shares of the auto manufacturer’s stock worth $254,000 after purchasing an additional 205 shares during the period. ICONIQ Capital LLC raised its position in shares of General Motors by 4.2% in the first quarter. ICONIQ Capital LLC now owns 5,434 shares of the auto manufacturer’s stock worth $256,000 after buying an additional 220 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in General Motors by 14.4% during the first quarter. HHM Wealth Advisors LLC now owns 1,838 shares of the auto manufacturer’s stock valued at $86,000 after buying an additional 232 shares during the period. Finally, Private Trust Co. NA grew its position in General Motors by 4.8% during the second quarter. Private Trust Co. NA now owns 5,519 shares of the auto manufacturer’s stock worth $272,000 after buying an additional 253 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Mary T. Barra sold 753,720 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $59.95, for a total transaction of $45,185,514.00. Following the completion of the sale, the chief executive officer owned 433,527 shares in the company, valued at approximately $25,989,943.65. This represents a 63.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 6,600 shares of the stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $61.95, for a total value of $408,870.00. Following the completion of the transaction, the executive vice president directly owned 8,513 shares in the company, valued at approximately $527,380.35. This represents a 43.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,298,064 shares of company stock worth $138,050,080 in the last 90 days. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Argus set a $78.00 price target on General Motors in a report on Thursday, October 23rd. UBS Group raised their target price on shares of General Motors from $81.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. 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. Finally, Citigroup upped their price objective on General Motors from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

General Motors Stock Performance

Shares of General Motors stock opened at $68.55 on Thursday. General Motors Company has a 1 year low of $41.60 and a 1 year high of $72.87. The firm’s 50-day moving average is $63.23 and its 200 day moving average is $55.96. The stock has a market cap of $63.94 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.96 and a beta of 1.41. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.23 and a quick ratio of 1.06.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.48. General Motors had a net margin of 1.62% and a return on equity of 12.29%. The business had revenue of $48.59 billion during the quarter, compared to analysts’ expectations of $44.60 billion. During the same period in the previous year, the company earned $2.96 earnings per share. The business’s revenue for the quarter was down .3% compared to the same quarter last year. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Sell-side analysts anticipate that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, December 5th. General Motors’s dividend payout ratio (DPR) is currently 12.07%.

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.