Assetmark Inc. Increases Holdings in General Motors (NYSE:GM)

Assetmark Inc. grew its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,819 shares of the auto manufacturer’s stock after purchasing an additional 11,811 shares during the quarter. Assetmark Inc.’s holdings in General Motors were worth $3,119,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of General Motors during the 4th quarter worth $602,280,000. Acadian Asset Management LLC boosted its stake in General Motors by 454.3% in the 3rd quarter. Acadian Asset Management LLC now owns 5,216,283 shares of the auto manufacturer’s stock worth $171,961,000 after purchasing an additional 4,275,293 shares during the period. AQR Capital Management LLC boosted its stake in General Motors by 32.6% in the 3rd quarter. AQR Capital Management LLC now owns 8,326,682 shares of the auto manufacturer’s stock worth $274,531,000 after purchasing an additional 2,049,412 shares during the period. Vanguard Group Inc. boosted its stake in General Motors by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 111,460,756 shares of the auto manufacturer’s stock worth $3,674,861,000 after purchasing an additional 1,580,681 shares during the period. Finally, EP Wealth Advisors LLC boosted its stake in General Motors by 518.4% in the 3rd quarter. EP Wealth Advisors LLC now owns 1,274,574 shares of the auto manufacturer’s stock worth $42,023,000 after purchasing an additional 1,068,474 shares during the period. 92.67% of the stock is owned by hedge funds and other institutional investors.

General Motors Trading Up 0.9 %

General Motors stock traded up $0.38 during trading hours on Friday, reaching $44.11. The company had a trading volume of 7,373,009 shares, compared to its average volume of 11,011,397. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The company has a 50-day moving average price of $44.30 and a 200 day moving average price of $38.47. The firm has a market cap of $50.33 billion, a price-to-earnings ratio of 5.39, a P/E/G ratio of 0.51 and a beta of 1.49. General Motors has a 12-month low of $26.30 and a 12-month high of $46.17.

General Motors (NYSE:GM) (TSE:GMM.U) last announced its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.60. The business had revenue of $43.01 billion for the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.21 EPS. Equities analysts forecast that General Motors will post 9.4 earnings per share for the current year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.09%. General Motors’s dividend payout ratio is currently 5.87%.

Insider Transactions at General Motors

In other news, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now directly owns 12,007 shares in the company, valued at approximately $540,315. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Gerald Johnson sold 27,122 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.26, for a total transaction of $1,227,541.72. Following the sale, the executive vice president now directly owns 71,506 shares in the company, valued at $3,236,361.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Christopher Hatto sold 3,500 shares of General Motors stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the sale, the chief accounting officer now owns 12,007 shares in the company, valued at $540,315. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,422 shares of company stock worth $3,085,372. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GM has been the subject of several analyst reports. Piper Sandler raised their target price on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada raised their target price on General Motors from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 23rd. TheStreet upgraded General Motors from a “c+” rating to a “b-” rating in a research note on Tuesday, March 19th. UBS Group raised their price target on General Motors from $56.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Mizuho raised their price target on General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.65.

About General Motors

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.