Bard Financial Services Inc. Sells 8,000 Shares of GSK plc (NYSE:GSK)

Bard Financial Services Inc. lessened its position in GSK plc (NYSE:GSK) by 12.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,145 shares of the pharmaceutical company’s stock after selling 8,000 shares during the quarter. Bard Financial Services Inc.’s holdings in GSK were worth $2,336,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Eastern Bank purchased a new position in shares of GSK in the third quarter worth $26,000. Sunbelt Securities Inc. grew its stake in GSK by 73.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after acquiring an additional 302 shares in the last quarter. Concord Wealth Partners lifted its position in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in GSK in the 2nd quarter valued at about $37,000. Finally, Fortitude Family Office LLC acquired a new stake in GSK in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Insider Buying and Selling

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the business’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 purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 10.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and lowered their target price for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com lowered shares of GSK from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Down 0.8 %

GSK stock opened at $34.94 on Wednesday. The firm has a market cap of $72.41 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 1.33 and a beta of 0.64. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92. The firm has a fifty day moving average price of $36.56 and a two-hundred day moving average price of $39.50. 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 disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.50%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 99.35%.

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.