171,524 General Motors Company $GM Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lessened its holdings in shares of General Motors Company (NYSE:GM) (TSE:GMM.U) by 54.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 140,930 shares of the auto manufacturer’s stock after selling 171,524 shares during the period. ProShare Advisors LLC’s holdings in General Motors were worth $10,852,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in General Motors in the 2nd quarter valued at $5,958,995,000. Dimensional Fund Advisors LP increased its holdings in General Motors by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,225,518 shares of the auto manufacturer’s stock valued at $1,059,668,000 after buying an additional 77,100 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of General Motors by 1.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,559,990 shares of the auto manufacturer’s stock valued at $659,804,000 after buying an additional 101,885 shares in the last quarter. Bank of America Corp DE bought a new stake in General Motors during the second quarter worth $629,465,000. Finally, Legal & General Group Plc bought a new stake in shares of General Motors during the 2nd quarter worth $599,066,000. 92.67% of the stock is owned by institutional investors.

Key General Motors News

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

General Motors Stock Down 1.8%

Shares of GM 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 stock has a market capitalization of $74.52 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 0.51 and a beta of 1.40. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.94 and a current ratio of 1.09. The stock has a fifty day moving average of $83.15 and a 200-day moving average of $80.69.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings data on Tuesday, October 20th. The auto manufacturer reported $3.70 earnings per share for the quarter, beating the consensus estimate of $3.69 by $0.01. The company had revenue of $50.02 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $2.80 EPS. As a group, sell-side analysts anticipate that General Motors Company will post 13.38 earnings per share for the current fiscal year.

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

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 17th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, December 4th. General Motors’s dividend payout ratio (DPR) is presently 16.51%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on General Motors from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, October 12th. TD Cowen reissued a “buy” rating and set a $132.00 target price on shares of General Motors in a research note on Wednesday, October 21st. UBS Group dropped their target price on shares of General Motors from $112.00 to $109.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Benchmark restated a “buy” rating and issued a $105.00 price target (up from $90.00) on shares of General Motors in a research note on Tuesday, July 21st. Finally, Truist Financial set a $105.00 price target on shares of General Motors in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, General Motors presently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

General Motors Company 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.