Bruce G. Allen Investments LLC Sells 1,002 Shares of GSK plc (NYSE:GSK)

Bruce G. Allen Investments LLC reduced its position in shares of GSK plc (NYSE:GSK) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,063 shares of the pharmaceutical company’s stock after selling 1,002 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in GSK were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JTC Employer Solutions Trustee Ltd increased its holdings in shares of GSK by 71.3% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock valued at $909,063,000 after purchasing an additional 8,800,822 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of GSK by 10.6% in the fourth quarter. Fisher Asset Management LLC now owns 15,036,881 shares of the pharmaceutical company’s stock valued at $557,267,000 after purchasing an additional 1,436,488 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of GSK by 13.9% in the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after purchasing an additional 1,773,020 shares during the last quarter. Mondrian Investment Partners LTD increased its holdings in shares of GSK by 37.8% in the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock valued at $236,250,000 after purchasing an additional 1,512,442 shares during the last quarter. Finally, Equity Investment Corp increased its holdings in shares of GSK by 1.0% in the second quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock valued at $132,178,000 after purchasing an additional 34,631 shares during the last quarter. 15.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on GSK. Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. UBS Group downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Finally, Jefferies Financial Group upped their price target on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, GSK has an average rating of “Buy” and a consensus target price of $50.00.

GSK Trading Up 5.8 %

Shares of GSK stock opened at $40.24 on Thursday. The company has a market capitalization of $83.40 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.31 and a beta of 0.65. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. GSK plc has a 12-month low of $33.67 and a 12-month high of $45.92. The firm’s 50-day moving average price is $41.51 and its two-hundred day moving average price is $41.44.

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

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be issued a $0.3843 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is 54.71%.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was purchased 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 of the company’s stock, valued at $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.00% of the company’s stock.

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.