abrdn plc Has $45.52 Million Stock Holdings in General Motors (NYSE:GM)

abrdn plc trimmed its position in General Motors (NYSE:GM) (TSE:GMM.U) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 853,429 shares of the auto manufacturer’s stock after selling 61,011 shares during the quarter. abrdn plc owned about 0.08% of General Motors worth $45,522,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Trust Point Inc. lifted its stake in shares of General Motors by 2.7% in the fourth quarter. Trust Point Inc. now owns 7,241 shares of the auto manufacturer’s stock worth $386,000 after buying an additional 193 shares during the last quarter. Holistic Planning LLC lifted its stake in shares of General Motors by 3.9% in the fourth quarter. Holistic Planning LLC now owns 5,759 shares of the auto manufacturer’s stock worth $307,000 after buying an additional 214 shares during the last quarter. HHM Wealth Advisors LLC lifted its stake in shares of General Motors by 21.9% in the fourth quarter. HHM Wealth Advisors LLC now owns 1,606 shares of the auto manufacturer’s stock worth $86,000 after buying an additional 289 shares during the last quarter. Western Pacific Wealth Management LP lifted its stake in shares of General Motors by 51.4% in the fourth quarter. Western Pacific Wealth Management LP now owns 9,117 shares of the auto manufacturer’s stock worth $486,000 after buying an additional 3,095 shares during the last quarter. Finally, McAdam LLC acquired a new stake in shares of General Motors in the fourth quarter worth $221,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

General Motors Stock Down 1.6 %

Shares of NYSE:GM opened at $47.79 on Thursday. General Motors has a 52 week low of $37.60 and a 52 week high of $61.24. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.98 and a current ratio of 1.13. The company’s fifty day moving average is $52.27 and its 200-day moving average is $49.94. The company has a market capitalization of $47.55 billion, a PE ratio of 7.77, a P/E/G ratio of 0.69 and a beta of 1.40.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.17. General Motors had a net margin of 3.21% and a return on equity of 15.29%. Equities research analysts predict that General Motors will post 11.41 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, March 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.00%. General Motors’s payout ratio is presently 7.80%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on GM shares. StockNews.com cut shares of General Motors from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group boosted their target price on shares of General Motors from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada boosted their target price on shares of General Motors from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Morgan Stanley raised shares of General Motors from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $46.00 to $54.00 in a research report on Tuesday, December 10th. Finally, DZ Bank lowered shares of General Motors from a “buy” rating to a “hold” rating and set a $49.00 price target on the stock. in a report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.28.

Insider Buying and Selling at General Motors

In other General Motors news, Director Alfred F. Kelly, Jr. bought 12,000 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were bought at an average cost of $50.66 per share, for a total transaction of $607,920.00. Following the transaction, the director now owns 13,714 shares in the company, valued at approximately $694,751.24. This trade represents a 700.12 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Rory Harvey sold 8,919 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total value of $535,229.19. Following the completion of the sale, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.