GSK plc (NYSE:GSK) Shares Sold by Empire Financial Management Company LLC

Empire Financial Management Company LLC cut its stake in GSK plc (NYSE:GSK) by 33.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,712 shares of the pharmaceutical company’s stock after selling 8,000 shares during the period. Empire Financial Management Company LLC’s holdings in GSK were worth $642,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Eastern Bank acquired a new position in GSK during the third quarter worth $26,000. Concord Wealth Partners grew its stake in GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in GSK in the 2nd quarter valued at about $37,000. Fortitude Family Office LLC acquired a new position in GSK during the third quarter worth about $42,000. Finally, PrairieView Partners LLC purchased a new stake in shares of GSK in the second quarter valued at about $47,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Down 2.2 %

Shares of NYSE GSK opened at $35.19 on Wednesday. The stock has a fifty day moving average price of $36.56 and a 200 day moving average price of $39.50. The company has a market cap of $72.93 billion, a P/E ratio of 22.85, a P/E/G ratio of 1.33 and a beta of 0.64. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

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. This represents a $1.57 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 99.35%.

Insider Transactions at GSK

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GSK. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and cut their price objective for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com lowered shares of GSK from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

About GSK

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.