GSK plc (NYSE:GSK) Shares Sold by Citigroup Inc.

Citigroup Inc. trimmed its position in shares of GSK plc (NYSE:GSK) by 70.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,960 shares of the pharmaceutical company’s stock after selling 462,116 shares during the period. Citigroup Inc.’s holdings in GSK were worth $7,806,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Raymond James Trust N.A. raised its holdings in shares of GSK by 6.9% in the 3rd quarter. Raymond James Trust N.A. now owns 45,948 shares of the pharmaceutical company’s stock worth $1,878,000 after purchasing an additional 2,969 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in GSK by 13.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 121,603 shares of the pharmaceutical company’s stock valued at $4,971,000 after buying an additional 14,687 shares during the period. Integrated Investment Consultants LLC acquired a new position in GSK during the third quarter valued at approximately $2,761,000. Primecap Management Co. CA lifted its position in GSK by 2.4% during the third quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock valued at $607,222,000 after buying an additional 342,365 shares in the last quarter. Finally, Moran Wealth Management LLC grew its stake in GSK by 1.2% during the third quarter. Moran Wealth Management LLC now owns 425,646 shares of the pharmaceutical company’s stock worth $17,400,000 after buying an additional 4,864 shares during the period. 15.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction dated Friday, September 27th. The shares were acquired 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 owns 16,775,691 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised GSK to a “hold” rating in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group cut 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 report on Tuesday, November 12th. Seven 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, GSK has an average rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Trading Down 0.6 %

Shares of GSK opened at $34.13 on Friday. GSK plc has a one year low of $32.83 and a one year high of $45.92. The stock has a 50-day moving average price of $37.29 and a 200 day moving average price of $40.01. 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 company has a market capitalization of $70.74 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.31 and a beta of 0.66.

GSK Increases Dividend

The firm also recently announced 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. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio is 99.35%.

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.