BerganKDV Wealth Management LLC Purchases 565 Shares of General Motors (NYSE:GM)

Posted by Defense World Staff on Jul 17th, 2023

BerganKDV Wealth Management LLC lifted its position in shares of General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 379.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 714 shares of the auto manufacturer’s stock after purchasing an additional 565 shares during the quarter. BerganKDV Wealth Management LLC’s holdings in General Motors were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in shares of General Motors by 6.5% in the 4th quarter. Morgan Stanley now owns 15,011,042 shares of the auto manufacturer’s stock worth $504,972,000 after purchasing an additional 921,435 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in General Motors by 93.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 14,763,488 shares of the auto manufacturer’s stock worth $496,644,000 after acquiring an additional 7,115,861 shares in the last quarter. Norges Bank bought a new position in shares of General Motors during the fourth quarter valued at $493,248,000. Putnam Investments LLC raised its position in shares of General Motors by 17.0% in the 4th quarter. Putnam Investments LLC now owns 12,884,970 shares of the auto manufacturer’s stock worth $433,450,000 after purchasing an additional 1,872,986 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in General Motors by 1.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 11,644,987 shares of the auto manufacturer’s stock valued at $391,737,000 after purchasing an additional 158,827 shares during the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at General Motors

In other news, President Mark L. Reuss sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $41.00, for a total transaction of $381,300.00. Following the transaction, the president now owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Mark L. Reuss sold 9,300 shares of General Motors stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $41.00, for a total transaction of $381,300.00. Following the completion of the transaction, the president now directly owns 282,973 shares of the company’s stock, valued at approximately $11,601,893. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Paul A. Jacobson purchased 31,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The shares were purchased at an average price of $32.60 per share, for a total transaction of $1,010,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 186,847 shares in the company, valued at approximately $6,091,212.20. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.

General Motors Stock Down 1.2 %

Shares of GM stock opened at $40.00 on Monday. The stock has a market cap of $55.60 billion, a P/E ratio of 6.18, a PEG ratio of 0.58 and a beta of 1.36. The company’s fifty day simple moving average is $35.89 and its two-hundred day simple moving average is $36.42. The company has a quick ratio of 0.90, a current ratio of 1.10 and a debt-to-equity ratio of 1.05. General Motors has a 52 week low of $31.10 and a 52 week high of $43.63.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last posted its earnings results on Tuesday, April 25th. The auto manufacturer reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.68. General Motors had a net margin of 5.84% and a return on equity of 15.74%. The firm had revenue of $39.99 billion during the quarter, compared to analyst estimates of $39.38 billion. During the same period last year, the firm posted $2.09 earnings per share. General Motors’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that General Motors will post 6.94 EPS for the current fiscal year.

General Motors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.36 annualized dividend and a yield of 0.90%. General Motors’s payout ratio is currently 5.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GM shares. Wells Fargo & Company upped their target price on shares of General Motors from $30.00 to $32.00 in a research note on Monday, July 10th. Barclays boosted their target price on shares of General Motors from $42.00 to $46.00 in a research note on Monday, July 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of General Motors from $37.00 to $35.00 in a research note on Wednesday, April 26th. Bank of America boosted their target price on shares of General Motors from $70.00 to $72.00 in a research report on Thursday, July 6th. Finally, Morgan Stanley increased their price target on shares of General Motors from $38.00 to $41.00 in a research report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.00.

General Motors Company Profile

(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.