GSK plc (NYSE:GSK) Shares Sold by LMR Partners LLP

LMR Partners LLP reduced its position in shares of GSK plc (NYSE:GSK) by 39.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,019,192 shares of the pharmaceutical company’s stock after selling 1,312,266 shares during the period. GSK accounts for about 0.7% of LMR Partners LLP’s investment portfolio, making the stock its 8th largest position. LMR Partners LLP owned about 0.10% of GSK worth $82,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of GSK. Eastern Bank acquired a new position in GSK in the third quarter valued at $26,000. Concord Wealth Partners increased its stake in shares of GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of GSK in the second quarter worth approximately $37,000. Fortitude Family Office LLC purchased a new stake in GSK in the third quarter valued at approximately $42,000. Finally, PrairieView Partners LLC purchased a new position in GSK during the second quarter worth approximately $47,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GSK has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday. Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised GSK to a “hold” rating in a research note on Tuesday, August 27th. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and reduced their price target for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Seven equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Performance

Shares of NYSE:GSK opened at $33.35 on Monday. The business’s 50-day simple moving average is $39.08 and its 200 day simple moving average is $40.68. The company has a market cap of $69.12 billion, a P/E ratio of 21.66, a PEG ratio of 1.29 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. GSK plc has a one year low of $32.83 and a one year high of $45.92.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be given a dividend of $0.3928 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Friday, November 15th. GSK’s payout ratio is presently 98.70%.

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction that occurred on 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 approximately $134,205,528. This trade represents a 19.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.