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 $3.81 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.
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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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 SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 42.99 million shares of the company’s stock, all valued at over $1.54 billion. The company sold -0.11 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold 94683.0 shares to see its total holdings shrink to 33.44 million shares valued at over $1.2 billion and representing 2.44% of the shares outstanding. SPDR S&P 500 ETF Trust sold 91756.0 shares to bring its total holdings to over 16.76 million shares at a value of $601.93 million. SPDR S&P 500 ETF Trust now owns shares totaling to 1.22% of the shares outstanding.
However, the script later moved the day high at 35.54, up 0.06%. The company’s stock has a 5-day price change of -0.93% and 21.27% over the past three months. GM shares are trading -2.06% year to date (YTD), with the 12-month market performance down to -3.14% lower. 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 20.23 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 -1.26%, 5.26%, and 4.11% respectively.
Institutional ownership of General Motors Company (NYSE: GM) shares accounts for 83.42% of the company’s 1.40B shares outstanding. Mutual fund holders own 40.29%, while other institutional holders and individual stakeholders account for 43.74% and 15.75% respectively.
It has a market capitalization of $48.18B and a beta (3y monthly) value of 1.49. The stock’s trailing 12-month PE ratio is 4.95, while the earnings-per-share (ttm) stands at $7.11. The company has a PEG of 1.32 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 2.11% over the week and 2.26% over the month.
Analysts forecast that General Motors Company (GM) will achieve an EPS of $1.07 for the current quarter, $1.87 for the next quarter and $7.22 for 2024. The lowest estimate earnings-per-share for the quarter is $0.87 while analysts give the company a high EPS estimate of $1.38. Comparatively, EPS for the current quarter was $2.12 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.27%, and 1.60% 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.
Looking at the support for the GM, a number of firms have released research notes about the stock. Redburn Atlantic stated their Neutral rating for the stock in a research note on January 24, 2024, with the firm’s price target at $40.
