Euro Pacific Asset Management LLC Sells 3,336 Shares of GSK plc (NYSE:GSK)

Euro Pacific Asset Management LLC reduced its position in shares of GSK plc (NYSE:GSK) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 217,886 shares of the pharmaceutical company’s stock after selling 3,336 shares during the quarter. GSK accounts for approximately 1.6% of Euro Pacific Asset Management LLC’s holdings, making the stock its 26th biggest position. Euro Pacific Asset Management LLC’s holdings in GSK were worth $8,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley Wealth Managers Inc. purchased a new stake in GSK during the third quarter valued at approximately $62,000. Arjuna Capital grew its position in shares of GSK by 144.3% during the 3rd quarter. Arjuna Capital now owns 78,934 shares of the pharmaceutical company’s stock valued at $3,227,000 after acquiring an additional 46,621 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of GSK by 6.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 66,645 shares of the pharmaceutical company’s stock worth $2,724,000 after purchasing an additional 4,204 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in GSK by 6.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 112,395 shares of the pharmaceutical company’s stock worth $4,595,000 after purchasing an additional 6,468 shares during the period. Finally, Simmons Bank lifted its position in GSK by 3.1% during the third quarter. Simmons Bank now owns 153,319 shares of the pharmaceutical company’s stock valued at $6,268,000 after purchasing an additional 4,630 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Insider Activity

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

GSK Price Performance

Shares of NYSE:GSK opened at $33.35 on Friday. The firm has a market cap of $69.11 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 1.35 and a beta of 0.66. The firm has a fifty day moving average price of $39.08 and a 200 day moving average price of $40.69. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is 100.00%.

Analyst Ratings Changes

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