GSK plc (NYSE:GSK) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in GSK plc (NYSE:GSK) by 3.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 189,108 shares of the pharmaceutical company’s stock after selling 6,259 shares during the quarter. QRG Capital Management Inc.’s holdings in GSK were worth $7,731,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its stake in shares of GSK by 43.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 13,546 shares of the pharmaceutical company’s stock worth $581,000 after buying an additional 4,126 shares during the period. Private Advisor Group LLC increased its stake in GSK by 13.0% in the first quarter. Private Advisor Group LLC now owns 79,606 shares of the pharmaceutical company’s stock valued at $3,413,000 after purchasing an additional 9,187 shares during the last quarter. Rehmann Capital Advisory Group purchased a new position in GSK in the first quarter valued at approximately $212,000. Callan Capital LLC purchased a new position in GSK in the first quarter valued at approximately $253,000. Finally, Signaturefd LLC increased its stake in GSK by 9.3% in the first quarter. Signaturefd LLC now owns 32,701 shares of the pharmaceutical company’s stock valued at $1,402,000 after purchasing an additional 2,788 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Trading Up 0.2 %

Shares of GSK stock opened at $36.97 on Tuesday. The firm has a 50-day moving average price of $40.55 and a 200 day moving average price of $41.03. GSK plc has a twelve month low of $33.89 and a twelve month high of $45.92. The company has a market capitalization of $76.62 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 1.45 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.54 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid 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 dividend yield of 4.25%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 100.00%.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

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.