Oppenheimer & Co. Inc. Decreases Stock Position in General Motors (NYSE:GM)

Oppenheimer & Co. Inc. cut its stake in General Motors (NYSE:GMFree Report) (TSE:GMM.U) by 22.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,679 shares of the auto manufacturer’s stock after selling 9,718 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in General Motors were worth $1,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of GM. Handelsbanken Fonder AB lifted its holdings in shares of General Motors by 18.5% in the 4th quarter. Handelsbanken Fonder AB now owns 475,061 shares of the auto manufacturer’s stock worth $17,064,000 after acquiring an additional 74,194 shares during the last quarter. US Bancorp DE raised its position in General Motors by 59.3% in the 4th quarter. US Bancorp DE now owns 86,888 shares of the auto manufacturer’s stock worth $3,121,000 after purchasing an additional 32,331 shares during the period. Cerity Partners LLC lifted its stake in General Motors by 361.1% in the fourth quarter. Cerity Partners LLC now owns 119,714 shares of the auto manufacturer’s stock worth $4,300,000 after purchasing an additional 93,754 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of General Motors by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,327,552 shares of the auto manufacturer’s stock valued at $370,966,000 after buying an additional 558,765 shares during the period. Finally, Foundry Partners LLC grew its stake in shares of General Motors by 15.0% during the third quarter. Foundry Partners LLC now owns 394,047 shares of the auto manufacturer’s stock valued at $12,992,000 after buying an additional 51,336 shares during the last quarter. 92.67% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GM has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Mizuho boosted their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Sanford C. Bernstein assumed coverage on shares of General Motors in a research note on Thursday, April 25th. They issued an “outperform” rating and a $55.00 price target on the stock. Piper Sandler boosted their price objective on shares of General Motors from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wedbush raised their target price on shares of General Motors from $45.00 to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.65.

View Our Latest Analysis on GM

Insiders Place Their Bets

In other General Motors news, President Mark L. Reuss sold 150,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $43.44, for a total value of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares of the company’s stock, valued at $7,684,840.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Mary T. Barra sold 626,316 shares of General Motors stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $43.46, for a total transaction of $27,219,693.36. Following the completion of the transaction, the chief executive officer now directly owns 1,198,648 shares of the company’s stock, valued at approximately $52,093,242.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Mark L. Reuss sold 150,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $43.44, for a total transaction of $6,516,000.00. Following the sale, the president now directly owns 176,907 shares in the company, valued at $7,684,840.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 818,038 shares of company stock valued at $35,592,299. 0.72% of the stock is owned by insiders.

General Motors Price Performance

Shares of GM stock opened at $47.58 on Tuesday. General Motors has a fifty-two week low of $26.30 and a fifty-two week high of $47.76. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.97 and a current ratio of 1.16. The firm has a market capitalization of $54.29 billion, a price-to-earnings ratio of 5.82, a PEG ratio of 0.53 and a beta of 1.46. The stock’s 50-day simple moving average is $44.58 and its 200-day simple moving average is $39.95.

General Motors (NYSE:GMGet Free Report) (TSE:GMM.U) last posted its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping the consensus estimate of $2.02 by $0.60. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business had revenue of $43.01 billion during the quarter, compared to the consensus estimate of $41.09 billion. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that General Motors will post 9.4 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. General Motors’s dividend payout ratio is currently 5.87%.

About General Motors

(Free Report)

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.

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Institutional Ownership by Quarter for General Motors (NYSE:GM)

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