QRG Capital Management Inc. Sells 6,259 Shares of GSK plc (NYSE:GSK)

QRG Capital Management Inc. lessened its position in GSK plc (NYSE:GSK) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 189,108 shares of the pharmaceutical company’s stock after selling 6,259 shares during the period. QRG Capital Management Inc.’s holdings in GSK were worth $7,731,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Primecap Management Co. CA lifted its stake in shares of GSK by 13.9% in the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after buying an additional 1,773,020 shares in the last quarter. Mondrian Investment Partners LTD lifted its stake in shares of GSK by 37.8% in the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after buying an additional 1,512,442 shares in the last quarter. Equity Investment Corp lifted its stake in shares of GSK by 1.0% in the second quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock worth $132,178,000 after buying an additional 34,631 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of GSK by 30.9% in the second quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock worth $90,398,000 after buying an additional 554,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of GSK by 33.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock worth $86,875,000 after buying an additional 569,614 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on GSK shares. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

Insider Transactions at GSK

In other GSK news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

GSK Stock Performance

Shares of NYSE GSK opened at $36.97 on Tuesday. The firm has a fifty day moving average price of $40.55 and a 200-day moving average price of $41.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.54. The stock has a market cap of $76.62 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.45 and a beta of 0.66. GSK plc has a 1 year low of $33.89 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 paid a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.25%. GSK’s dividend payout ratio is 100.00%.

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.