Brown Brothers Harriman & Co. Has $247,000 Stock Holdings in GSK plc (NYSE:GSK)

Brown Brothers Harriman & Co. reduced its holdings in shares of GSK plc (NYSE:GSK) by 18.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,054 shares of the pharmaceutical company’s stock after selling 1,354 shares during the period. Brown Brothers Harriman & Co.’s holdings in GSK were worth $247,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Eastern Bank bought a new position in shares of GSK in the 3rd quarter valued at $26,000. Concord Wealth Partners raised its position in GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $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 during the second quarter valued at about $37,000. Fortitude Family Office LLC bought a new stake in shares of GSK during the third quarter worth about $42,000. Finally, PrairieView Partners LLC acquired a new position in shares of GSK in the second quarter valued at approximately $47,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 10.00% of the company’s stock.

GSK Stock Up 0.9 %

Shares of GSK stock opened at $34.32 on Thursday. The stock’s 50-day moving average is $37.56 and its 200 day moving average is $40.13. GSK plc has a one year low of $32.83 and a one year high of $45.92. The firm has a market cap of $71.13 billion, a price-to-earnings ratio of 22.29, a PEG ratio of 1.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53.

GSK Increases Dividend

The firm 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 dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.58%. 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 presently 99.35%.

Analyst Ratings Changes

GSK has been the topic of a number of research reports. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Argus raised GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group cut 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 research note on Tuesday, November 12th. Finally, Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research note 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 company’s stock. According to data from MarketBeat, GSK has a consensus 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.