The Vanguard Group, Inc. recently announced the acquisition of new stake in General Motors Company (NYSE:GM). The institutional investor has increased its shareholding in the Consumer Cyclical company by 1.52% to 105.93 million shares with purchase of 1.59 million shares. This fresh investment now brings its stake to 7.74% valued currently at $3.35 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.96 million to 67.38 million shares. And Geode Capital Management LLC has lifted its position by 1.23% or 0.31 million shares – to 25.62 million shares.
With over 14.99 million General Motors Company (GM) shares trading Friday and a closing price of $35.99 on the day, the dollar volume was approximately $539.44 million. The shares have shown a negative half year performance of -9.14% and its price on 01/05/24 gained nearly 1.41%. Currently, there are 1.40B common shares owned by the public and among those 1.37B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 26 analysts who have offered their price forecasts for GM have a consensus price objective of $45.44. The analysts have set the share’s price value over the next 12 months at a high of $95.00 and a low of $27.00. The average price target is 20.8% above its recent price level and a downside to the estimated low will see the stock lose -33.3% over that period. But an upside of 62.12% will see the stock hit the forecast high price target while median target price for the stock is $41.65.
Insiders at the company have transacted a total of 23 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 1,149,978 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 512,877 shares.
The top 3 mutual fund holders in General Motors Company are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Washington Mutual Investors Fund. Vanguard Total Stock Market ETF owns 43.1 million shares of the company’s stock, all valued at over $1.36 billion. The company bought an additional 50292.0 shares recently to bring their total holdings to about 3.15% of the shares outstanding. Vanguard 500 Index Fund bought 0.16 million shares to see its total holdings expand to 33.23 million shares valued at over $1.05 billion and representing 2.43% of the shares outstanding. Washington Mutual Investors Fund sold -0.58 million shares to bring its total holdings to over 29.54 million shares at a value of $933.61 million. Washington Mutual Investors Fund now owns shares totaling to 2.16% of the shares outstanding.
Shares of General Motors Company (NYSE: GM) opened at $35.51, up $0.02 from a prior closing price of $35.49. However, the script later moved the day high at 36.61, up 1.41%. The company’s stock has a 5-day price change of -0.58% and 18.74% over the past three months. GM shares are trading 0.19% year to date (YTD), with the 12-month market performance up to 3.75% higher. It has a 12-month low price of $26.30 and touched a high of $43.63 over the same period. GM has an average intraday trading volume of 20.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.34%, 14.80%, and 6.61% respectively.
Institutional ownership of General Motors Company (NYSE: GM) shares accounts for 83.52% of the company’s 1.40B shares outstanding. Mutual fund holders own 41.56%, while other institutional holders and individual stakeholders account for 42.56% and 15.75% respectively.
It has a market capitalization of $49.29B and a beta (3y monthly) value of 1.49. The stock’s trailing 12-month PE ratio is 5.06, while the earnings-per-share (ttm) stands at $7.11. The company has a PEG of 1.35 and a Quick Ratio of 0.96 with the debt-to-equity ratio at 1.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.59% over the week and 2.33% over the month.
Analysts forecast that General Motors Company (GM) will achieve an EPS of $Zoom Video Communications, Inc. for the current quarter, $66.96 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $General Electric Company while analysts give the company a high EPS estimate of $General Motors Company. Comparatively, EPS for the current quarter was $GMD/GBP a year ago. Earnings per share for the fiscal year are expected to decrease by -1.02%, and 3.27% over the next financial year. EPS should shrink at an annualized rate of 3.75% over the next five years, compared to 240.48% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 26 brokerage firm advisors rate General Motors Company (GM) as a “Strong Buy” at a consensus score of 1.73. Specifically, 17 Wall Street analysts polled rate the stock as a buy, while 7 of the 26 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the GM, a number of firms have released research notes about the stock. Wolfe Research stated their Outperform rating for the stock in a research note on January 04, 2024, with the firm’s price target at $42.
