GSK plc (NYSE:GSK) Shares Purchased by Royal Fund Management LLC

Royal Fund Management LLC grew its holdings in shares of GSK plc (NYSE:GSK) by 87.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,456 shares of the pharmaceutical company’s stock after purchasing an additional 19,758 shares during the period. Royal Fund Management LLC’s holdings in GSK were worth $1,737,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Register Financial Advisors LLC bought a new position in GSK in the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK in the 2nd quarter worth approximately $37,000. Richardson Financial Services Inc. acquired a new position in GSK during the 4th quarter valued at approximately $40,000. PrairieView Partners LLC bought a new position in GSK during the 2nd quarter worth $47,000. Finally, Triad Wealth Partners LLC acquired a new stake in GSK in the second quarter worth $49,000. 15.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup upgraded shares of GSK to a “strong-buy” rating in a research report on Monday, June 24th. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. Jefferies Financial Group raised their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $50.00.

GSK Price Performance

NYSE:GSK traded down $0.08 during midday trading on Wednesday, hitting $37.94. 197,614 shares of the stock were exchanged, compared to its average volume of 3,579,558. The company has a market capitalization of $78.63 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.31 and a beta of 0.65. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. GSK plc has a one year low of $33.67 and a one year high of $45.92. The business has a 50-day moving average price of $41.51 and a two-hundred day moving average price of $41.44.

GSK (NYSE:GSK) last posted its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.49 billion. Sell-side analysts predict that GSK plc will post 4.17 EPS for the current year.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be issued a $0.3843 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 4.05%. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 16th. GSK’s dividend payout ratio is presently 54.71%.

Insider Activity

In other GSK news, major shareholder Plc Gsk bought 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, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 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.