Bell Bank Sells 24,678 Shares of GSK plc (NYSE:GSK)

Bell Bank lowered its position in shares of GSK plc (NYSE:GSK) by 14.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 150,911 shares of the pharmaceutical company’s stock after selling 24,678 shares during the quarter. Bell Bank’s holdings in GSK were worth $6,169,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Eastern Bank bought a new position in GSK during the third quarter worth $26,000. Concord Wealth Partners raised its holdings in shares of GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of GSK during the 2nd quarter worth about $37,000. Fortitude Family Office LLC acquired a new stake in shares of GSK in the 3rd quarter valued at about $42,000. Finally, PrairieView Partners LLC bought a new stake in GSK in the 2nd quarter valued at about $47,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

GSK has been the subject of a number of research reports. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $53.00 to $39.50 in a report on Tuesday. Finally, Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GSK currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Down 1.2 %

NYSE GSK opened at $35.11 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $72.77 billion, a P/E ratio of 22.80, a PEG ratio of 1.36 and a beta of 0.66. The business has a fifty day simple moving average of $39.65 and a 200 day simple moving average of $40.84. GSK plc has a 12 month low of $34.29 and a 12 month high of $45.92.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a dividend of $0.3928 per share. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio (DPR) is presently 98.70%.

GSK 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.