Sunbelt Securities Inc. Grows Position in GSK plc (NYSE:GSK)

Sunbelt Securities Inc. increased its position in GSK plc (NYSE:GSK) by 73.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 711 shares of the pharmaceutical company’s stock after purchasing an additional 302 shares during the period. Sunbelt Securities Inc.’s holdings in GSK were worth $29,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of GSK by 8.3% in the 3rd quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock worth $1,185,885,000 after buying an additional 2,224,345 shares during the period. Fisher Asset Management LLC grew its holdings in GSK by 4.9% in the third quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock worth $759,425,000 after purchasing an additional 870,449 shares during the period. Primecap Management Co. CA grew its holdings in GSK by 2.4% in the third quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock worth $607,222,000 after purchasing an additional 342,365 shares during the period. Provident Trust Co. lifted its holdings in shares of GSK by 1.7% during the third quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock valued at $161,623,000 after purchasing an additional 66,765 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of GSK by 30.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,542,143 shares of the pharmaceutical company’s stock worth $144,803,000 after purchasing an additional 833,080 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Stock Down 0.6 %

GSK stock opened at $33.95 on Monday. The stock has a market cap of $70.36 billion, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.54 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a fifty day moving average of $36.18 and a 200 day moving average of $39.21. GSK plc has a one year low of $32.83 and a one year high of $45.92.

GSK Increases Dividend

The firm 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. This represents a $1.57 annualized dividend and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is 99.35%.

Insider Buying and Selling

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

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.