3 Auto Stocks Going Places: Tesla Backer Reduces Stake, Toyota Lowers Plug-In Price, Ford’s Dividend
Tesla Motors (NASDAQ:TSLA): Investment firm FMR, which opened its position in Tesla back in 2011, has cut its 15 percent stake in Tesla down to 9.61 percent and is likely walking away with a healthy profit on that portion.
Toyota Motor Corp. (NYSE:TM): Toyota will be cutting the prices of its plug-in Prius model to help boost U.S. sales of the unit. The 2014 Prius Plug-in will now start at $29,990, a $2,010 drop from the current model, while the higher-end Advanced trim will see a 12 percent cut to $34,905. The Toyota cars are also eligible for a $2,500 tax credit and hit showrooms in November.
Ford Motor Co. (NYSE:F): Ford has declared a 10 cents per share quarterly dividend, in line with Ford’s previous dividend offerings. It has a forward yield of 2.41 percent and is payable on December 2 for shareholders of record on November 1. It has an ex-dividend date of October 30.