Wedbush Securities Inc. Cuts Stock Position in General Motors Company $GM

Wedbush Securities Inc. lessened its holdings in General Motors Company (NYSE:GM) (TSE:GMM.U) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,421 shares of the auto manufacturer’s stock after selling 938 shares during the period. Wedbush Securities Inc.’s holdings in General Motors were worth $1,153,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Trust Co. of Toledo NA OH purchased a new stake in shares of General Motors during the 2nd quarter valued at about $25,000. GFG Capital LLC bought a new stake in shares of General Motors in the 2nd quarter valued at approximately $27,000. RMG Wealth Management LLC bought a new position in shares of General Motors during the 2nd quarter valued at approximately $32,000. Costello Asset Management INC bought a new position in General Motors during the first quarter valued at $32,000. Finally, WPG Advisers LLC bought a new position in General Motors during the 1st quarter valued at about $34,000. Institutional investors own 92.67% of the company’s stock.

General Motors Stock Up 2.7%

General Motors stock opened at $70.72 on Monday. The business has a fifty day moving average price of $61.30 and a 200-day moving average price of $54.68. General Motors Company has a 1-year low of $41.60 and a 1-year high of $70.76. The stock has a market capitalization of $65.97 billion, a price-to-earnings ratio of 14.23, 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 posted its quarterly earnings results on Tuesday, October 21st. The auto manufacturer reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the company posted $2.96 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. General Motors has set its FY 2025 guidance at 9.750-10.500 EPS. Equities research analysts forecast that General Motors Company will post 11.44 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Friday, December 5th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. General Motors’s payout ratio is presently 12.07%.

Insider Buying and Selling at General Motors

In related news, CAO Christopher Hatto sold 36,804 shares of the business’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $55.10, for a total value of $2,027,900.40. Following the completion of the transaction, the chief accounting officer directly owned 12,007 shares in the company, valued at $661,585.70. The trade was a 75.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mary T. Barra sold 907,024 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $58.24, for a total transaction of $52,825,077.76. Following the sale, the chief executive officer owned 552,238 shares in the company, valued at approximately $32,162,341.12. This represents a 62.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,327,144 shares of company stock valued at $139,521,852. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GM. Wells Fargo & Company raised their price target on General Motors from $40.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 22nd. Zacks Research raised shares of General Motors from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 24th. Argus set a $78.00 price target on General Motors in a report on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of General Motors in a research report on Tuesday, October 21st. Finally, Barclays lifted their price objective on shares of General Motors from $77.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Three research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

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.