AlphaCore Capital LLC Cuts Stake in GSK plc (NYSE:GSK)

AlphaCore Capital LLC trimmed its holdings in GSK plc (NYSE:GSK) by 3.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,643 shares of the pharmaceutical company’s stock after selling 465 shares during the quarter. AlphaCore Capital LLC’s holdings in GSK were worth $563,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Primecap Management Co. CA boosted its position in shares of GSK by 13.9% during the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after acquiring an additional 1,773,020 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in GSK during the 2nd quarter valued at about $52,487,000. Kahn Brothers Group Inc. bought a new position in shares of GSK during the 1st quarter worth $53,743,000. Dimensional Fund Advisors LP increased its stake in shares of GSK by 33.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock valued at $86,875,000 after buying an additional 569,614 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of GSK by 30.9% in the second quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock valued at $90,398,000 after acquiring an additional 554,600 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Trading Up 1.0 %

Shares of NYSE:GSK opened at $33.67 on Friday. The firm has a market capitalization of $69.79 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 1.29 and a beta of 0.66. The business’s 50 day moving average price is $38.27 and its 200-day moving average price is $40.44. 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.

GSK Increases Dividend

The company also recently announced 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. This represents a $1.57 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is 98.70%.

Insider Buying and Selling

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average price 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 represents a 19.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GSK has been the topic of a number of research reports. Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Argus raised shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GSK currently has an average rating of “Moderate Buy” and a consensus price target of $43.25.

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.