State of Wyoming Sells 6,937 Shares of General Motors Company $GM

State of Wyoming trimmed its stake in General Motors Company (NYSE:GM) (TSE:GMM.U) by 58.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,019 shares of the auto manufacturer’s stock after selling 6,937 shares during the period. State of Wyoming’s holdings in General Motors were worth $386,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Evergreen Advisors LLC bought a new position in General Motors in the first quarter worth approximately $26,000. Comprehensive Financial Planning Inc. PA bought a new stake in General Motors during the 2nd quarter valued at $31,000. Burk Holdings LLC bought a new stake in General Motors during the 2nd quarter valued at $31,000. Premier Financial Group purchased a new stake in shares of General Motors in the 2nd quarter worth $31,000. Finally, Elevation Wealth Partners LLC lifted its holdings in General Motors by 70.6% during the second quarter. Elevation Wealth Partners LLC now owns 464 shares of the auto manufacturer’s stock worth $36,000 after buying an additional 192 shares during the period. 92.67% of the stock is currently owned by institutional investors.

General Motors Stock Performance

Shares of GM stock opened at $88.34 on Wednesday. General Motors Company has a 52-week low of $66.75 and a 52-week high of $91.85. The company has a quick ratio of 0.94, a current ratio of 1.09 and a debt-to-equity ratio of 1.32. The stock has a market cap of $74.52 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 0.51 and a beta of 1.40. The business has a 50-day simple moving average of $83.15 and a 200-day simple moving average of $80.69.

General Motors (NYSE:GM) (TSE:GMM.U) last posted its earnings results on Tuesday, October 20th. The auto manufacturer reported $3.70 EPS for the quarter, topping the consensus estimate of $3.69 by $0.01. The firm had revenue of $50.02 billion for the quarter, compared to analyst estimates of $48.78 billion. General Motors had a return on equity of 19.36% and a net margin of 2.12%. General Motors’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $2.80 earnings per share. On average, equities analysts expect that General Motors Company will post 13.38 EPS for the current year.

General Motors declared that its board has initiated a stock repurchase plan on Tuesday, October 20th that permits the company to repurchase $20 billion in shares. This repurchase authorization permits the auto manufacturer to reacquire up to 27.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 17th. Shareholders of record on Friday, December 4th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, December 4th. General Motors’s dividend payout ratio is currently 16.51%.

Trending Headlines about General Motors

Here are the key news stories impacting General Motors this week:

• Positive Sentiment: GM plans to add an AI “intelligence layer” to OnStar, potentially expanding the capabilities of its connected-vehicle services. GM adding an AI intelligence layer to OnStar
• Positive Sentiment: The automaker’s upcoming hybrid push will begin with large SUVs, broadening its powertrain options in a major vehicle segment. GM’s hybrid onslaught will start with its big SUVs
• Neutral Sentiment: A comparison with Ford says GM has the stronger operating profile, while Ford offers a larger dividend—a favorable operational comparison, but not a direct catalyst for near-term earnings. GM vs Ford comparison
• Neutral Sentiment: Zacks describes GM as a top-ranked value stock, though the article’s supplied details do not indicate a new earnings or business catalyst. Zacks on GM as a value stock
• Negative Sentiment: GM is facing a reported $220 million privacy settlement tied to driver data practices, creating a financial cost and renewed scrutiny of how the company handles connected-vehicle data. GM’s $220 million privacy settlement
• Negative Sentiment: Ohio is to receive $8 million from GM over sharing driver data, adding to the legal and reputational concerns around the company’s data practices. Ohio to get $8 million from GM

Analyst Upgrades and Downgrades

A number of brokerages have commented on GM. Daiwa Securities Group boosted their target price on shares of General Motors from $83.00 to $86.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Barclays reduced their price objective on shares of General Motors from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Truist Financial set a $105.00 price target on General Motors in a research report on Wednesday, October 7th. Tigress Financial boosted their target price on General Motors from $130.00 to $132.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 28th. Finally, BNP Paribas Exane increased their price target on General Motors from $102.00 to $112.00 and gave the company an “outperform” rating in a research note on Monday, August 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $101.44.

General Motors Profile

General Motors Company (NYSE: GM) is a global automotive company headquartered in Detroit, Michigan. Founded in 1908, GM designs, manufactures and sells vehicles and related services through brands including Chevrolet, Buick, GMC and Cadillac.

GM’s product lineup includes passenger cars, pickup trucks, sport utility vehicles, commercial vehicles and electric vehicles. The company is also developing connected-vehicle technologies, driver-assistance systems and charging and energy-management solutions.