Lazari Capital Management Inc. Sells 424 Shares of GSK plc (NYSE:GSK)

Lazari Capital Management Inc. cut its stake in GSK plc (NYSE:GSK) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,546 shares of the pharmaceutical company’s stock after selling 424 shares during the period. Lazari Capital Management Inc.’s holdings in GSK were worth $799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. DGS Capital Management LLC grew its holdings in GSK by 1.5% during the 1st quarter. DGS Capital Management LLC now owns 30,691 shares of the pharmaceutical company’s stock worth $1,316,000 after acquiring an additional 466 shares during the period. Signet Financial Management LLC increased its holdings in GSK by 4.6% in the first quarter. Signet Financial Management LLC now owns 11,162 shares of the pharmaceutical company’s stock valued at $479,000 after purchasing an additional 494 shares during the last quarter. Cardinal Capital Management lifted its stake in GSK by 8.7% in the first quarter. Cardinal Capital Management now owns 54,174 shares of the pharmaceutical company’s stock valued at $2,343,000 after buying an additional 4,332 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in GSK by 2.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 157,266 shares of the pharmaceutical company’s stock worth $6,742,000 after buying an additional 4,082 shares during the last quarter. Finally, Thrive Wealth Management LLC grew its holdings in GSK by 23.3% during the first quarter. Thrive Wealth Management LLC now owns 11,642 shares of the pharmaceutical company’s stock valued at $499,000 after purchasing an additional 2,198 shares during the period. Institutional investors own 15.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GSK. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Jefferies Financial Group lifted their target price on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Finally, Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GSK currently has a consensus rating of “Buy” and an average price target of $50.00.

Insiders Place Their Bets

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.

GSK Price Performance

GSK stock opened at $38.00 on Wednesday. The company has a market capitalization of $78.75 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.30 and a beta of 0.65. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The stock’s 50 day moving average is $41.33 and its 200-day moving average is $41.21.

GSK (NYSE:GSK) last issued its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.49 billion. Equities research analysts expect that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Friday, August 16th were given a dividend of $0.3843 per share. This represents a $1.54 dividend on an annualized basis and a yield of 4.05%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, August 16th. GSK’s dividend payout ratio (DPR) is currently 55.80%.

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.