Raymond James Trust N.A. Has $1.88 Million Stock Position in GSK plc (NYSE:GSK)

Raymond James Trust N.A. grew its holdings in shares of GSK plc (NYSE:GSK) by 6.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,948 shares of the pharmaceutical company’s stock after purchasing an additional 2,969 shares during the quarter. Raymond James Trust N.A.’s holdings in GSK were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

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

GSK Stock Performance

NYSE:GSK opened at $33.96 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. The firm’s 50-day moving average is $38.09 and its 200-day moving average is $40.35. GSK plc has a 52-week low of $32.83 and a 52-week high of $45.92. The company has a market cap of $70.38 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.29 and a beta of 0.66.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a $0.3928 dividend. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.63%. GSK’s dividend payout ratio is 99.35%.

Insider Buying and Selling at GSK

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of the firm’s stock in a transaction 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 purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This 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 is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Argus raised shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays raised 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 research report on Thursday, October 31st. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and cut their price objective for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft lowered 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 given 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 a consensus target price of $43.25.

GSK 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.