United Bank Buys 1,760 Shares of GSK plc (NYSE:GSK)

United Bank grew its stake in GSK plc (NYSE:GSK) by 7.3% during the third quarter, Holdings Channel reports. The firm owned 25,785 shares of the pharmaceutical company’s stock after purchasing an additional 1,760 shares during the period. United Bank’s holdings in GSK were worth $1,054,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Eastern Bank bought a new position in shares of GSK in the third quarter valued at approximately $26,000. Concord Wealth Partners lifted its holdings in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after acquiring an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in GSK during the second quarter worth $37,000. Fortitude Family Office LLC bought a new stake in GSK during the third quarter worth $42,000. Finally, PrairieView Partners LLC bought a new stake in GSK during the second quarter worth $47,000. Institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on GSK shares. Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Finally, Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $50.00.

Insider Activity

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction dated Friday, September 27th. The stock was bought at an average cost 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. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is owned by company insiders.

GSK Stock Performance

Shares of GSK opened at $36.30 on Friday. The firm has a market cap of $75.22 billion, a PE ratio of 23.57, a PEG ratio of 1.38 and a beta of 0.66. GSK plc has a 1 year low of $33.89 and a 1 year high of $45.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The stock’s fifty day moving average price is $39.95 and its two-hundred day moving average price is $40.91.

GSK Increases Dividend

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

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.