Pitcairn Co. Cuts Stock Holdings in GSK plc (NYSE:GSK)

Pitcairn Co. decreased its position in GSK plc (NYSE:GSK) by 14.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,100 shares of the pharmaceutical company’s stock after selling 1,328 shares during the quarter. Pitcairn Co.’s holdings in GSK were worth $331,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Boltwood Capital Management increased its stake in GSK by 2.5% in the 2nd quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock valued at $429,000 after buying an additional 270 shares during the last quarter. First Affirmative Financial Network lifted its holdings in GSK by 4.7% during the second quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock worth $245,000 after acquiring an additional 283 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in GSK by 9.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock worth $137,000 after acquiring an additional 303 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in GSK by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock worth $682,000 after purchasing an additional 323 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in GSK by 6.3% in the 2nd quarter. International Assets Investment Management LLC now owns 5,535 shares of the pharmaceutical company’s stock valued at $213,000 after purchasing an additional 327 shares during the period. 15.74% of the stock is owned by institutional investors.

GSK Stock Performance

NYSE GSK opened at $34.02 on Wednesday. The company’s 50 day simple moving average is $37.73 and its two-hundred day simple moving average is $40.17. 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 stock has a market capitalization of $70.51 billion, a PE ratio of 22.09, a P/E/G ratio of 1.30 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. Investors of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.62%. GSK’s dividend payout ratio (DPR) is currently 98.70%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GSK. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and decreased their price target for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Seven investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Buying and Selling

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, with a total value 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 $134,205,528. This trade represents a 19.97 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by company 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.