Trustmark National Bank Trust Department Reduces Holdings in GSK plc (NYSE:GSK)

Trustmark National Bank Trust Department reduced its stake in GSK plc (NYSE:GSK) by 7.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,793 shares of the pharmaceutical company’s stock after selling 3,848 shares during the quarter. Trustmark National Bank Trust Department’s holdings in GSK were worth $1,995,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GSK. Primecap Management Co. CA raised its stake in shares of GSK by 2.4% in the third quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock worth $607,222,000 after purchasing an additional 342,365 shares during the last quarter. Moran Wealth Management LLC raised its position in GSK by 1.2% during the 3rd quarter. Moran Wealth Management LLC now owns 425,646 shares of the pharmaceutical company’s stock worth $17,400,000 after buying an additional 4,864 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in GSK by 11.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 142,348 shares of the pharmaceutical company’s stock valued at $5,819,000 after acquiring an additional 14,565 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of GSK by 420.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 564,934 shares of the pharmaceutical company’s stock valued at $23,095,000 after acquiring an additional 456,319 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of GSK in the third quarter worth $216,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 10.00% of the company’s stock.

GSK Stock Performance

NYSE:GSK opened at $33.36 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a market capitalization of $69.14 billion, a PE ratio of 21.66, a P/E/G ratio of 1.29 and a beta of 0.66. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The company has a fifty day moving average of $38.46 and a two-hundred day moving average of $40.49.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a yield of 4.71%. GSK’s dividend payout ratio (DPR) is currently 99.35%.

Wall Street Analysts Forecast Growth

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