Meridian Wealth Management LLC Sells 2,380 Shares of GSK plc (NYSE:GSK)

Meridian Wealth Management LLC decreased its position in GSK plc (NYSE:GSK) by 14.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,636 shares of the pharmaceutical company’s stock after selling 2,380 shares during the period. Meridian Wealth Management LLC’s holdings in GSK were worth $557,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. boosted its stake in GSK by 6.9% in the 3rd quarter. Raymond James Trust N.A. now owns 45,948 shares of the pharmaceutical company’s stock worth $1,878,000 after purchasing an additional 2,969 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in GSK by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,603 shares of the pharmaceutical company’s stock valued at $4,971,000 after acquiring an additional 14,687 shares during the period. Integrated Investment Consultants LLC bought a new position in GSK during the 3rd quarter valued at about $2,761,000. Primecap Management Co. CA increased its position in shares of GSK by 2.4% during the 3rd quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock valued at $607,222,000 after purchasing an additional 342,365 shares during the last quarter. Finally, Moran Wealth Management LLC increased its position in shares of GSK by 1.2% during the 3rd quarter. Moran Wealth Management LLC now owns 425,646 shares of the pharmaceutical company’s stock valued at $17,400,000 after purchasing an additional 4,864 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

Shares of GSK stock opened at $33.96 on Monday. The firm has a market cap of $70.38 billion, a P/E ratio of 22.05, a P/E/G 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 12 month low of $32.83 and a 12 month high of $45.92. The stock’s fifty day moving average price is $38.09 and its 200-day moving average price is $40.32.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a $0.3928 dividend. This represents a $1.57 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 99.35%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GSK shares. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and lowered their price target for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Seven investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Buying and Selling at GSK

In other GSK news, major shareholder Plc Gsk purchased 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, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 10.00% of the stock is owned by insiders.

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.