Arkadios Wealth Advisors Reduces Stock Position in GSK plc (NYSE:GSK)

Arkadios Wealth Advisors trimmed its holdings in GSK plc (NYSE:GSK) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 54,663 shares of the pharmaceutical company’s stock after selling 406 shares during the quarter. Arkadios Wealth Advisors’ holdings in GSK were worth $2,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank bought a new stake in shares of GSK during the third quarter valued at about $26,000. Register Financial Advisors LLC purchased a new stake in GSK in the 1st quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in GSK in the 2nd quarter valued at $37,000. PrairieView Partners LLC purchased a new position in shares of GSK during the 2nd quarter valued at $47,000. Finally, Triad Wealth Partners LLC bought a new position in shares of GSK in the second quarter worth $49,000. Institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK stock opened at $37.52 on Friday. The firm has a market capitalization of $77.76 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.65. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The business’s 50-day moving average price is $41.12 and its 200-day moving average price is $41.14.

GSK (NYSE:GSK) last issued its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GSK had a net margin of 12.87% and a return on equity of 51.48%. Sell-side analysts forecast that GSK plc will post 4.14 EPS for the current fiscal year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Friday, August 16th were given a $0.3843 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 4.10%. The ex-dividend date of this dividend was Friday, August 16th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is presently 62.10%.

Insiders Place Their Bets

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction dated Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GSK. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Jefferies Financial Group raised their target price on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, GSK presently has an average rating of “Buy” and an average price target of $50.00.

GSK Profile

GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, and specialty and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through two segments, Commercial Operations and Total R&D.