Wells Fargo & Company Boosts General Motors (NYSE:GM) Price Target to $30.00

General Motors (NYSE:GM) (TSE:GMM.U) had its price objective lifted by Wells Fargo & Company from $28.00 to $30.00 in a report released on Wednesday, Benzinga reports. They currently have an underweight rating on the auto manufacturer’s stock.

Several other research analysts also recently commented on the company. Royal Bank of Canada lifted their target price on General Motors from $54.00 to $56.00 and gave the stock an overweight rating in a report on Tuesday, April 23rd. Tigress Financial lifted their target price on General Motors from $86.00 to $88.00 and gave the stock a strong-buy rating in a report on Thursday, February 15th. The Goldman Sachs Group lifted their target price on General Motors from $45.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, January 31st. TheStreet raised General Motors from a c+ rating to a b- rating in a report on Tuesday, March 19th. Finally, Piper Sandler assumed coverage on General Motors in a research note on Friday, March 15th. They issued a neutral rating and a $44.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $54.65.

General Motors Trading Up 0.5 %

Shares of GM stock opened at $45.84 on Wednesday. The firm has a market capitalization of $52.30 billion, a P/E ratio of 5.60, a P/E/G ratio of 0.53 and a beta of 1.51. General Motors has a twelve month low of $26.30 and a twelve month high of $46.17. The company has a quick ratio of 0.90, a current ratio of 1.16 and a debt-to-equity ratio of 1.22. The stock’s fifty day simple moving average is $42.27 and its 200 day simple moving average is $36.32.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings data on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share 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 analyst estimates of $41.09 billion. General Motors had a return on equity of 14.40% and a net margin of 6.13%. General Motors’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.21 EPS. As a group, sell-side analysts predict that General Motors will post 9.45 EPS for the current fiscal year.

General Motors Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Friday, June 7th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio (DPR) is currently 5.87%.

Insider Buying and Selling

In related news, CAO Christopher Hatto sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the transaction, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other General Motors news, CAO Christopher Hatto sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $45.00, for a total transaction of $157,500.00. Following the completion of the sale, the chief accounting officer now directly owns 12,007 shares of the company’s stock, valued at approximately $540,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gerald Johnson sold 15,190 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $40.03, for a total value of $608,055.70. Following the sale, the executive vice president now directly owns 98,628 shares of the company’s stock, valued at $3,948,078.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,248 shares of company stock valued at $3,614,078. 0.54% of the stock is owned by company insiders.

Institutional Trading of General Motors

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GM. SouthState Corp increased its holdings in General Motors by 173.8% during the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock worth $25,000 after purchasing an additional 485 shares in the last quarter. LifeSteps Financial Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $25,000. Highlander Capital Management LLC bought a new position in shares of General Motors in the fourth quarter valued at approximately $27,000. Cape Investment Advisory Inc. grew its holdings in shares of General Motors by 75.9% in the fourth quarter. Cape Investment Advisory Inc. now owns 832 shares of the auto manufacturer’s stock valued at $30,000 after acquiring an additional 359 shares in the last quarter. Finally, YHB Investment Advisors Inc. bought a new position in shares of General Motors in the first quarter valued at approximately $32,000. 92.67% of the stock is owned by institutional investors.

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.