GSK plc (NYSE:GSK) Shares Sold by First City Capital Management Inc.

First City Capital Management Inc. lessened its stake in shares of GSK plc (NYSE:GSK) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,488 shares of the pharmaceutical company’s stock after selling 1,220 shares during the period. First City Capital Management Inc.’s holdings in GSK were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eastern Bank purchased a new stake in shares of GSK in the 3rd quarter valued at approximately $26,000. Concord Wealth Partners lifted 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 buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in GSK during the second quarter worth about $37,000. Fortitude Family Office LLC acquired a new stake in shares of GSK during the third quarter valued at about $42,000. Finally, PrairieView Partners LLC purchased a new stake in shares of GSK in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Price Performance

Shares of NYSE GSK opened at $33.70 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The company has a market cap of $69.84 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66. The stock’s 50-day moving average is $38.88 and its two-hundred day moving average is $40.61. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92.

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 $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.66%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio (DPR) is presently 99.35%.

Insider Transactions at GSK

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

Analysts Set New Price Targets

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

GSK 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.