GSK plc (NYSE:GSK) Stock Holdings Boosted by Raymond James Trust N.A.

Raymond James Trust N.A. lifted its position in GSK plc (NYSE:GSK) by 6.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,948 shares of the pharmaceutical company’s stock after buying an additional 2,969 shares during the period. Raymond James Trust N.A.’s holdings in GSK were worth $1,878,000 at the end of the most recent reporting period.

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

GSK Stock Up 0.8 %

NYSE:GSK opened at $33.96 on Friday. The business’s fifty day moving average price is $38.09 and its 200 day moving average price is $40.35. The firm has a market capitalization of $70.38 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.29 and a beta of 0.66. 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 1-year low of $32.83 and a 1-year high of $45.92.

GSK Increases Dividend

The firm also recently announced 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 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 4.63%. GSK’s dividend payout ratio is currently 99.35%.

Insider Buying and Selling

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was 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 in the company, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

About GSK

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.