Plc Gsk Buys 2,791,930 Shares of GSK plc (NYSE:GSK) Stock

GSK plc (NYSE:GSK) major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

GSK Trading Down 2.1 %

GSK opened at $39.46 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average is $41.61 and its two-hundred day moving average is $41.55. The company has a market capitalization of $81.78 billion, a P/E ratio of 14.30, a PEG ratio of 1.31 and a beta of 0.66. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92.

GSK (NYSE:GSK) last released its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.49 billion. Analysts forecast that GSK plc will post 4.17 earnings per share for the current year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be paid a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.90%. GSK’s dividend payout ratio (DPR) is currently 54.71%.

Hedge Funds Weigh In On GSK

A number of large investors have recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new position in shares of GSK in the 1st quarter valued at $31,000. Ashton Thomas Private Wealth LLC purchased a new position in GSK in the second quarter valued at about $37,000. Richardson Financial Services Inc. purchased a new position in GSK in the fourth quarter valued at about $40,000. PrairieView Partners LLC bought a new position in GSK in the second quarter worth about $47,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of GSK during the second quarter valued at about $49,000. Institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on GSK. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Jefferies Financial Group boosted their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Berenberg Bank upgraded GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $50.00.

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.