General Motors (NYSE:GM) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in General Motors (NYSE:GM - Free Report) TSE: GMM.U by 19.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,584,594 shares of the auto manufacturer's stock after selling 384,742 shares during the period. Lord Abbett & CO. LLC owned 0.14% of General Motors worth $71,053,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in shares of General Motors by 2.3% during the 3rd quarter. Allworth Financial LP now owns 9,184 shares of the auto manufacturer's stock valued at $412,000 after acquiring an additional 205 shares during the last quarter. Avestar Capital LLC grew its position in General Motors by 2.3% in the 3rd quarter. Avestar Capital LLC now owns 9,592 shares of the auto manufacturer's stock worth $430,000 after purchasing an additional 213 shares during the period. Continuum Advisory LLC raised its stake in General Motors by 7.9% during the 3rd quarter. Continuum Advisory LLC now owns 2,925 shares of the auto manufacturer's stock valued at $131,000 after buying an additional 213 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of General Motors by 3.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 6,804 shares of the auto manufacturer's stock valued at $316,000 after buying an additional 227 shares during the period. Finally, Institute for Wealth Management LLC. boosted its stake in shares of General Motors by 0.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 36,624 shares of the auto manufacturer's stock worth $1,702,000 after buying an additional 230 shares during the last quarter. Institutional investors own 92.67% of the company's stock.

Insider Buying and Selling

In related news, EVP Rory Harvey sold 8,919 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the sale, the executive vice president now owns 8,513 shares of the company's stock, valued at approximately $510,865.13. This represents a 51.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Mark L. Reuss sold 122,283 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $55.16, for a total value of $6,745,130.28. Following the completion of the sale, the president now owns 126,907 shares of the company's stock, valued at $7,000,190.12. This trade represents a 49.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,030,475 shares of company stock worth $56,509,286 in the last 90 days. Insiders own 0.72% of the company's stock.

General Motors Stock Performance

Shares of General Motors stock traded up $0.23 during trading on Friday, hitting $52.53. 8,849,316 shares of the company's stock were exchanged, compared to its average volume of 14,725,391. The stock has a market capitalization of $57.76 billion, a price-to-earnings ratio of 5.60, a PEG ratio of 0.39 and a beta of 1.42. The business has a 50-day simple moving average of $53.00 and a 200-day simple moving average of $48.68. General Motors has a 52-week low of $34.32 and a 52-week high of $61.24. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.03 and a current ratio of 1.21.

General Motors (NYSE:GM - Get Free Report) TSE: GMM.U last released its quarterly earnings results on Tuesday, October 22nd. The auto manufacturer reported $2.96 EPS for the quarter, beating the consensus estimate of $2.49 by $0.47. The company had revenue of $48.76 billion for the quarter, compared to analyst estimates of $44.67 billion. General Motors had a net margin of 6.06% and a return on equity of 16.30%. The firm's revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the business earned $2.28 earnings per share. On average, research analysts forecast that General Motors will post 10.35 EPS for the current year.

General Motors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Friday, December 6th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.91%. General Motors's dividend payout ratio is currently 5.12%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Mizuho lifted their price target on shares of General Motors from $59.00 to $62.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Wolfe Research assumed coverage on shares of General Motors in a research report on Thursday, September 5th. They issued a "peer perform" rating on the stock. UBS Group increased their price target on General Motors from $58.00 to $62.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Hsbc Global Res downgraded shares of General Motors from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $53.00 price target on shares of General Motors in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $58.85.

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.