General Motors (NYSE:GM) Shares Purchased by Vestmark Advisory Solutions Inc.

Posted by Defense World Staff on Apr 1st, 2023

Vestmark Advisory Solutions Inc. boosted its holdings in General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) by 30.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,477 shares of the auto manufacturer’s stock after acquiring an additional 9,843 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in General Motors were worth $1,429,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its holdings in General Motors by 3.1% in the third quarter. Parkside Financial Bank & Trust now owns 8,871 shares of the auto manufacturer’s stock valued at $285,000 after acquiring an additional 265 shares during the last quarter. Weik Capital Management raised its stake in shares of General Motors by 3.1% in the first quarter. Weik Capital Management now owns 9,075 shares of the auto manufacturer’s stock valued at $397,000 after acquiring an additional 275 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of General Motors by 85.8% in the first quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock valued at $26,000 after acquiring an additional 283 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of General Motors by 2.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 12,755 shares of the auto manufacturer’s stock valued at $557,000 after acquiring an additional 294 shares in the last quarter. Finally, Fortem Financial Group LLC raised its stake in shares of General Motors by 1.5% in the fourth quarter. Fortem Financial Group LLC now owns 20,418 shares of the auto manufacturer’s stock valued at $687,000 after acquiring an additional 299 shares in the last quarter. 78.92% of the stock is currently owned by institutional investors and hedge funds.

General Motors Trading Up 1.9 %

Shares of General Motors stock opened at $36.68 on Friday. The firm has a market capitalization of $51.16 billion, a PE ratio of 5.98, a price-to-earnings-growth ratio of 0.58 and a beta of 1.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.10 and a quick ratio of 0.93. The company’s fifty day moving average price is $38.36 and its two-hundred day moving average price is $37.38. General Motors has a 52-week low of $30.33 and a 52-week high of $46.74.

General Motors (NYSE:GM – Get Rating) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, January 31st. The auto manufacturer reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.44. General Motors had a net margin of 6.34% and a return on equity of 16.08%. The firm had revenue of $43.11 billion for the quarter, compared to analyst estimates of $40.62 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. The business’s revenue for the quarter was up 28.4% on a year-over-year basis. On average, analysts expect that General Motors will post 6.21 EPS for the current year.

General Motors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Friday, March 3rd were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.36 dividend on an annualized basis and a yield of 0.98%. General Motors’s payout ratio is presently 5.87%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Berenberg Bank lowered General Motors from a “buy” rating to a “hold” rating and dropped their target price for the company from $45.00 to $41.00 in a report on Monday, January 30th. Barclays assumed coverage on General Motors in a report on Tuesday, February 14th. They set an “equal weight” rating and a $46.00 price objective on the stock. Bank of America dropped their price objective on General Motors from $80.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft raised their price objective on General Motors from $33.00 to $36.00 in a report on Wednesday, February 1st. Finally, JPMorgan Chase & Co. dropped their price objective on General Motors from $59.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.69.

Insider Activity

In related news, EVP Gerald Johnson sold 15,743 shares of the stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $42.65, for a total transaction of $671,438.95. Following the completion of the sale, the executive vice president now directly owns 71,209 shares of the company’s stock, valued at approximately $3,037,063.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Gerald Johnson sold 15,743 shares of the stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $42.65, for a total value of $671,438.95. Following the completion of the sale, the executive vice president now owns 71,209 shares of the company’s stock, valued at approximately $3,037,063.85. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen K. Carlisle sold 18,000 shares of the stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $41.97, for a total value of $755,460.00. Following the completion of the sale, the executive vice president now directly owns 46,170 shares of the company’s stock, valued at approximately $1,937,754.90. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

General Motors Profile

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General Motors Co engages in the designing, manufacturing, and selling of trucks, crossovers, cars, and automobile parts and in providing software-enabled services and subscriptions. It operates through the following segments: GMNA, GMI, Cruise, and GM Financial. The company was founded by William C.