Independent Advisor Alliance Cuts Stock Position in GSK plc (NYSE:GSK)

Independent Advisor Alliance lessened its stake in GSK plc (NYSE:GSK) by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,086 shares of the pharmaceutical company’s stock after selling 1,450 shares during the period. Independent Advisor Alliance’s holdings in GSK were worth $617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GSK. Primecap Management Co. CA lifted its stake in shares of GSK by 13.9% in the 2nd quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after acquiring an additional 1,773,020 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of GSK in the 2nd quarter valued at about $52,487,000. Fisher Asset Management LLC lifted its stake in shares of GSK by 4.9% in the 3rd quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock valued at $759,425,000 after acquiring an additional 870,449 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of GSK by 33.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock valued at $86,875,000 after acquiring an additional 569,614 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of GSK by 30.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock valued at $90,398,000 after acquiring an additional 554,600 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Stock Up 0.9 %

GSK stock opened at $34.32 on Thursday. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The business’s 50 day moving average price is $37.56 and its two-hundred day moving average price is $40.13. 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 company has a market capitalization of $71.13 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66.

GSK Increases Dividend

The company also recently announced 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 is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.58%. GSK’s dividend payout ratio is 99.35%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GSK. Argus raised GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group lowered 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 research report on Tuesday, November 12th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Barclays raised GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GSK presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Insiders Place Their Bets

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company 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.