Provident Trust Co. Purchases 66,765 Shares of GSK plc (NYSE:GSK)

Provident Trust Co. increased its position in shares of GSK plc (NYSE:GSK) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,953,602 shares of the pharmaceutical company’s stock after purchasing an additional 66,765 shares during the period. GSK makes up about 2.9% of Provident Trust Co.’s portfolio, making the stock its 15th biggest holding. Provident Trust Co.’s holdings in GSK were worth $161,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Primecap Management Co. CA increased its stake in shares of GSK by 13.9% in the 2nd quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after purchasing an additional 1,773,020 shares during the last quarter. Acadian Asset Management LLC raised its stake in GSK by 180.0% during the first quarter. Acadian Asset Management LLC now owns 2,219,798 shares of the pharmaceutical company’s stock worth $95,129,000 after acquiring an additional 1,426,935 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of GSK in the second quarter worth about $52,487,000. Kahn Brothers Group Inc. acquired a new stake in shares of GSK in the 1st quarter valued at approximately $53,743,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of GSK by 33.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock valued at $86,875,000 after purchasing an additional 569,614 shares during the last quarter. 15.74% of the stock is owned by institutional investors.

GSK Price Performance

Shares of NYSE:GSK opened at $36.30 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. GSK plc has a 52 week low of $33.89 and a 52 week high of $45.92. The firm has a market cap of $75.22 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 1.38 and a beta of 0.66. The firm’s fifty day moving average is $39.95 and its 200-day moving average is $40.91.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 100.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GSK. Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Five 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 company’s stock. Based on data from MarketBeat.com, GSK currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 10.00% of the stock is owned by corporate insiders.

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.