General Motors (NYSE:GM) Shares Sold by Brown Advisory Inc.

Posted by Defense World Staff on Aug 16th, 2023

Brown Advisory Inc. lowered its stake in General Motors (NYSE:GM – Free Report) (TSE:GMM.U) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 24,094 shares of the auto manufacturer’s stock after selling 737 shares during the period. Brown Advisory Inc.’s holdings in General Motors were worth $884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aspire Private Capital LLC bought a new stake in shares of General Motors in the 1st quarter worth about $14,600,291,000. Penserra Capital Management LLC increased its position in shares of General Motors by 85.8% in the 1st quarter. Penserra Capital Management LLC now owns 613 shares of the auto manufacturer’s stock worth $26,000 after purchasing an additional 283 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of General Motors during the 1st quarter valued at about $25,000. BerganKDV Wealth Management LLC grew its position in shares of General Motors by 379.2% during the 1st quarter. BerganKDV Wealth Management LLC now owns 714 shares of the auto manufacturer’s stock valued at $26,000 after buying an additional 565 shares during the last quarter. Finally, Ahrens Investment Partners LLC acquired a new stake in General Motors during the first quarter valued at approximately $29,000. Institutional investors own 78.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GM. StockNews.com started coverage on shares of General Motors in a research note on Thursday, May 18th. They set a “buy” rating for the company. Mizuho reduced their target price on General Motors to $40.00 in a report on Wednesday, July 19th. Jefferies Financial Group upped their price target on General Motors from $37.00 to $39.00 in a research report on Friday, July 7th. Barclays lifted their target price on General Motors from $42.00 to $46.00 in a research note on Monday, July 10th. Finally, Morgan Stanley raised their price target on shares of General Motors from $38.00 to $41.00 in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.25.

View Our Latest Report on GM

Insider Transactions at General Motors

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

General Motors Stock Down 2.3 %

GM stock opened at $33.30 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.96 and a debt-to-equity ratio of 1.08. The firm has a market cap of $45.82 billion, a PE ratio of 4.65, a PEG ratio of 0.45 and a beta of 1.37. General Motors has a 1 year low of $31.10 and a 1 year high of $43.63. The company has a fifty day simple moving average of $37.75 and a 200 day simple moving average of $36.63.

General Motors (NYSE:GM – Get Free Report) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, July 25th. The auto manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. General Motors had a return on equity of 16.70% and a net margin of 6.05%. The company had revenue of $44.75 billion during the quarter, compared to the consensus estimate of $42.13 billion. During the same quarter in the prior year, the company posted $1.14 EPS. The firm’s revenue was up 25.1% on a year-over-year basis. Sell-side analysts anticipate that General Motors will post 7.6 EPS for the current fiscal year.

General Motors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Friday, September 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, August 31st. General Motors’s dividend payout ratio is 5.03%.

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.