GSK plc (NYSE:GSK) Shares Sold by Planning Capital Management Corp

Planning Capital Management Corp decreased its position in GSK plc (NYSE:GSK) by 32.9% in the third quarter, HoldingsChannel reports. The firm owned 1,323 shares of the pharmaceutical company’s stock after selling 648 shares during the period. Planning Capital Management Corp’s holdings in GSK were worth $54,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. 1832 Asset Management L.P. raised its holdings in shares of GSK by 9.1% during the 1st quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock valued at $132,000 after purchasing an additional 257 shares in the last quarter. Boltwood Capital Management raised its holdings in shares of GSK by 2.5% during the 2nd quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock valued at $429,000 after purchasing an additional 270 shares in the last quarter. First Affirmative Financial Network raised its holdings in shares of GSK by 4.7% during the 2nd quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after purchasing an additional 283 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in GSK by 9.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock worth $137,000 after acquiring an additional 303 shares during the period. Finally, Mesirow Financial Investment Management Inc. raised its holdings in GSK by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock worth $682,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

Insider Activity

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GSK has been the topic of several recent analyst reports. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $53.00 to $39.50 in a report on Tuesday. Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, GSK has an average rating of “Moderate Buy” and an average target price of $43.25.

GSK Price Performance

Shares of GSK stock opened at $34.38 on Friday. The firm has a market cap of $71.24 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The firm’s 50-day simple moving average is $39.46 and its 200-day simple moving average is $40.80. GSK plc has a twelve month low of $34.29 and a twelve month high of $45.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a yield of 4.57%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio is currently 100.00%.

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.