NorthCrest Asset Manangement LLC Acquires 1,491 Shares of GSK plc (NYSE:GSK)

NorthCrest Asset Manangement LLC increased its position in shares of GSK plc (NYSE:GSK) by 0.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 383,588 shares of the pharmaceutical company’s stock after purchasing an additional 1,491 shares during the period. NorthCrest Asset Manangement LLC’s holdings in GSK were worth $15,681,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GSK. Wealth Enhancement Advisory Services LLC increased its holdings in shares of GSK by 2.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 157,266 shares of the pharmaceutical company’s stock valued at $6,742,000 after purchasing an additional 4,082 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of GSK in the first quarter valued at $31,000. Romano Brothers AND Company acquired a new position in shares of GSK in the first quarter valued at $216,000. Foguth Wealth Management LLC. acquired a new position in shares of GSK in the first quarter valued at $567,000. Finally, Founders Financial Securities LLC acquired a new position in shares of GSK in the first quarter valued at $738,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average cost 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 in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 10.00% of the stock is owned by company insiders.

GSK Trading Down 0.6 %

Shares of GSK stock traded down $0.22 on Friday, hitting $37.52. The stock had a trading volume of 3,375,405 shares, compared to its average volume of 3,745,084. The stock has a 50 day moving average of $41.12 and a 200 day moving average of $41.14. GSK plc has a twelve month low of $33.67 and a twelve month 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 firm has a market capitalization of $77.76 billion, a P/E ratio of 13.59, a PEG ratio of 1.30 and a beta of 0.65.

GSK (NYSE:GSK) last released its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.49 billion. GSK had a net margin of 12.87% and a return on equity of 51.48%. Sell-side analysts expect 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. Stockholders of record on Friday, August 16th were given a dividend of $0.3843 per share. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 4.10%. GSK’s dividend payout ratio (DPR) is 55.80%.

Wall Street Analyst Weigh In

Several research firms have commented on GSK. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. UBS Group downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Finally, Jefferies Financial Group upped their price target on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $50.00.

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.