AlphaCore Capital LLC Sells 465 Shares of GSK plc (NYSE:GSK)

AlphaCore Capital LLC cut its holdings in GSK plc (NYSE:GSK) by 3.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,643 shares of the pharmaceutical company’s stock after selling 465 shares during the period. AlphaCore Capital LLC’s holdings in GSK were worth $563,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of GSK in the third quarter worth approximately $26,000. Concord Wealth Partners grew its holdings in GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after acquiring an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of GSK in the second quarter valued at about $37,000. Fortitude Family Office LLC bought a new position 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 during the second quarter worth about $47,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Trading Up 1.0 %

Shares of GSK stock opened at $33.67 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.53 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 stock has a market capitalization of $69.79 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.29 and a beta of 0.66. The firm’s 50 day moving average is $38.27 and its 200 day moving average is $40.44.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a $0.3928 dividend. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.67%. GSK’s dividend payout ratio (DPR) is presently 98.70%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and decreased their price target for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Finally, Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.25.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.

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.