Euro Pacific Asset Management LLC Reduces Stake in GSK plc (NYSE:GSK)

Euro Pacific Asset Management LLC cut its stake in shares of GSK plc (NYSE:GSK) by 1.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,886 shares of the pharmaceutical company’s stock after selling 3,336 shares during the period. GSK accounts for about 1.6% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 26th biggest position. Euro Pacific Asset Management LLC’s holdings in GSK were worth $8,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Eastern Bank purchased a new position in GSK during the third quarter worth $26,000. Concord Wealth Partners boosted its stake in shares of GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in GSK during the 2nd quarter valued at about $37,000. Fortitude Family Office LLC purchased a new stake in GSK in the 3rd quarter worth about $42,000. Finally, PrairieView Partners LLC bought a new stake in GSK in the second quarter worth about $47,000. 15.74% of the stock is owned by institutional investors.

Insider Activity at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GSK. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and reduced their target price for the stock from $53.00 to $39.50 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Down 1.9 %

NYSE:GSK opened at $33.35 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92. The company has a 50-day moving average of $39.08 and a 200 day moving average of $40.69. The firm has a market cap of $69.11 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66.

GSK Increases Dividend

The firm 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 is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.71%. GSK’s dividend payout ratio (DPR) is currently 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.