MAI Capital Management Sells 6,945 Shares of GSK plc (NYSE:GSK)

MAI Capital Management decreased its position in shares of GSK plc (NYSE:GSK) by 20.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,228 shares of the pharmaceutical company’s stock after selling 6,945 shares during the period. MAI Capital Management’s holdings in GSK were worth $1,113,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Primecap Management Co. CA boosted its stake in GSK by 13.9% in the 2nd quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after purchasing an additional 1,773,020 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of GSK during the second quarter worth $52,487,000. Kahn Brothers Group Inc. purchased a new position in GSK during the first quarter valued at $53,743,000. Dimensional Fund Advisors LP increased 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 valued at $86,875,000 after acquiring an additional 569,614 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in GSK by 30.9% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on GSK shares. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and decreased their target price for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Argus upgraded shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Seven research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Up 1.0 %

GSK stock opened at $33.67 on Friday. The firm’s fifty day simple moving average is $38.27 and its two-hundred day simple moving average is $40.44. The stock 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 company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a $0.3928 dividend. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio is 99.35%.

Insiders Place Their Bets

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were purchased 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 owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 10.00% of the stock is owned by insiders.

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.