NBC Securities Inc. Reduces Stock Position in GSK plc (NYSE:GSK)

NBC Securities Inc. cut its stake in GSK plc (NYSE:GSK) by 1.4% in the third quarter, HoldingsChannel.com reports. The fund owned 32,461 shares of the pharmaceutical company’s stock after selling 471 shares during the period. NBC Securities Inc.’s holdings in GSK were worth $1,327,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd boosted its stake in shares of GSK by 71.3% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock worth $909,063,000 after buying an additional 8,800,822 shares during the last quarter. Primecap Management Co. CA lifted its holdings in GSK by 13.9% in the second 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 period. Mondrian Investment Partners LTD boosted its position in GSK by 37.8% in the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after purchasing an additional 1,512,442 shares during the last quarter. Acadian Asset Management LLC boosted its position in GSK by 180.0% in the first quarter. Acadian Asset Management LLC now owns 2,219,798 shares of the pharmaceutical company’s stock worth $95,129,000 after purchasing an additional 1,426,935 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GSK during the 2nd quarter valued at about $52,487,000. 15.74% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 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 owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

GSK has been the subject of several recent research reports. Argus upgraded shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research note on Thursday, June 20th. UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $50.00.

GSK Trading Down 0.4 %

Shares of GSK stock opened at $38.96 on Wednesday. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82. The company has a market capitalization of $80.74 billion, a P/E ratio of 14.12, a P/E/G ratio of 1.30 and a beta of 0.65. The company has a fifty day moving average of $41.50 and a 200 day moving average of $41.32.

GSK (NYSE:GSK) last released its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.49 billion. On average, sell-side analysts anticipate that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Friday, August 16th were issued a dividend of $0.3843 per share. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Friday, August 16th. GSK’s dividend payout ratio (DPR) is 55.80%.

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.