GSK plc (NYSE:GSK) Shares Sold by Cadence Bank

Cadence Bank cut its holdings in GSK plc (NYSE:GSK) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 16,989 shares of the pharmaceutical company’s stock after selling 1,491 shares during the period. Cadence Bank’s holdings in GSK were worth $695,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. FMR LLC lifted its stake in GSK by 8.3% in the third quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock valued at $1,185,885,000 after buying an additional 2,224,345 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of GSK by 4.9% in the 3rd quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock worth $759,425,000 after acquiring an additional 870,449 shares during the period. Primecap Management Co. CA lifted its position in GSK by 2.4% in the 3rd quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock valued at $607,222,000 after purchasing an additional 342,365 shares during the last quarter. Provident Trust Co. boosted its stake in GSK by 1.7% during the 3rd quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock valued at $161,623,000 after purchasing an additional 66,765 shares during the period. Finally, Equity Investment Corp grew its position in GSK by 1.8% in the 3rd quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company’s stock worth $142,927,000 after purchasing an additional 63,052 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

Insider Buying and Selling at GSK

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

Wall Street Analyst Weigh In

GSK has been the subject of several analyst reports. Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and lowered 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, Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Up 0.9 %

GSK opened at $34.32 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 company has a market capitalization of $71.13 billion, a PE ratio of 22.29, a P/E/G ratio of 1.31 and a beta of 0.66. The stock’s fifty 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.

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 given a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.58%. GSK’s payout ratio is 99.35%.

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.