GSK plc (NYSE:GSK) Shares Acquired by Fiduciary Trust Co

Fiduciary Trust Co increased its holdings in shares of GSK plc (NYSE:GSK) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,638 shares of the pharmaceutical company’s stock after acquiring an additional 486 shares during the quarter. Fiduciary Trust Co’s holdings in GSK were worth $721,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Eastern Bank bought a new position in shares of GSK during the third quarter worth about $26,000. Concord Wealth Partners grew its position in GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of GSK in the second quarter valued at approximately $37,000. Fortitude Family Office LLC bought a new stake in shares of GSK during the third quarter valued at approximately $42,000. Finally, PrairieView Partners LLC acquired a new position in shares of GSK during the second quarter worth approximately $47,000. Institutional investors own 15.74% of the company’s stock.

Insider Activity

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 10.00% of the company’s stock.

GSK Stock Performance

Shares of GSK opened at $34.13 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The firm’s 50 day moving average is $37.29 and its 200-day moving average is $39.97. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The stock has a market capitalization of $70.74 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.31 and a beta of 0.66.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a dividend yield of 4.60%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 98.70%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Seven investment analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Company 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.