Fmr LLC Acquires 2,224,345 Shares of GSK plc (NYSE:GSK)

Fmr LLC lifted its holdings in shares of GSK plc (NYSE:GSK) by 8.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,008,928 shares of the pharmaceutical company’s stock after purchasing an additional 2,224,345 shares during the period. Fmr LLC owned 1.40% of GSK worth $1,185,885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Eastern Bank bought a new stake in shares of GSK during the 3rd quarter valued at about $26,000. Concord Wealth Partners boosted its position in shares of GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK during the 2nd quarter valued at about $37,000. Fortitude Family Office LLC bought a new position in GSK in the third quarter worth approximately $42,000. Finally, PrairieView Partners LLC acquired a new stake in GSK in the second quarter valued at approximately $47,000. Institutional investors own 15.74% of the company’s stock.

Analyst Ratings Changes

GSK has been the subject of a number of research reports. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and reduced their price objective for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. 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 data from MarketBeat, GSK has an average rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Down 0.4 %

Shares of NYSE:GSK opened at $34.02 on Wednesday. The stock has a market cap of $70.51 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 1.31 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The business’s 50 day moving average is $37.73 and its 200 day moving average is $40.17.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a dividend of $0.3928 per share. 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 4.62%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio (DPR) is 99.35%.

Insider Buying and Selling

In other GSK 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 acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is currently owned by corporate insiders.

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.