Ingalls & Snyder LLC Lowers Position in GSK plc (NYSE:GSK)

Ingalls & Snyder LLC lessened its stake in shares of GSK plc (NYSE:GSK) by 1.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 27,655 shares of the pharmaceutical company’s stock after selling 352 shares during the period. Ingalls & Snyder LLC’s holdings in GSK were worth $1,131,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

GSK has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and cut their target price for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Up 1.7 %

Shares of GSK stock opened at $34.90 on Wednesday. The stock’s 50-day moving average price is $37.03 and its 200-day moving average price is $39.79. 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 $72.32 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.31 and a beta of 0.64. 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.50%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio is 99.35%.

Insider Activity at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction on Friday, September 27th. The shares were bought 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 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.00% of the stock is currently owned by insiders.

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.