Stock Yards Bank & Trust Co. Buys New Shares in GSK plc (NYSE:GSK)

Stock Yards Bank & Trust Co. acquired a new position in shares of GSK plc (NYSE:GSK) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,130 shares of the pharmaceutical company’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Second Line Capital LLC purchased a new position in shares of GSK in the 3rd quarter valued at about $245,000. Rehmann Capital Advisory Group boosted its holdings in GSK by 6.3% in the third quarter. Rehmann Capital Advisory Group now owns 5,608 shares of the pharmaceutical company’s stock valued at $232,000 after purchasing an additional 332 shares in the last quarter. TD Private Client Wealth LLC increased its stake in GSK by 36.9% in the third quarter. TD Private Client Wealth LLC now owns 12,422 shares of the pharmaceutical company’s stock valued at $508,000 after purchasing an additional 3,346 shares during the last quarter. Sunbelt Securities Inc. lifted its position in shares of GSK by 73.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock worth $29,000 after buying an additional 302 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of GSK by 4.8% in the 3rd quarter. Continuum Advisory LLC now owns 10,599 shares of the pharmaceutical company’s stock valued at $433,000 after buying an additional 487 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and dropped their price target for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, GSK has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk acquired 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, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is currently owned by corporate insiders.

GSK Stock Down 0.7 %

GSK stock opened at $33.95 on Friday. The stock has a market capitalization of $70.35 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 1.54 and a beta of 0.64. 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 stock has a 50 day moving average of $36.18 and a two-hundred day moving average of $39.28. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a dividend of $0.3928 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.63%. GSK’s dividend payout ratio (DPR) is currently 99.35%.

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.