Cadence Bank Has $695,000 Position in GSK plc (NYSE:GSK)

Cadence Bank lessened its holdings in GSK plc (NYSE:GSK) by 8.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,989 shares of the pharmaceutical company’s stock after selling 1,491 shares during the period. Cadence Bank’s holdings in GSK were worth $695,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and reduced their price objective for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 10.00% of the company’s stock.

GSK Price Performance

NYSE GSK opened at $34.32 on Thursday. The firm has a market cap of $71.13 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. The stock’s 50-day moving average is $37.56 and its two-hundred day moving average is $40.13. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a $0.3928 dividend. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s payout ratio is 99.35%.

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.