GSK plc (NYSE:GSK) Position Cut by LMR Partners LLP

LMR Partners LLP lessened its stake in GSK plc (NYSE:GSK - Free Report) by 39.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,019,192 shares of the pharmaceutical company's stock after selling 1,312,266 shares during the period. GSK comprises approximately 0.7% of LMR Partners LLP's investment portfolio, making the stock its 8th largest holding. LMR Partners LLP owned 0.10% of GSK worth $82,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Eastern Bank acquired a new stake in GSK in the 3rd quarter worth about $26,000. Concord Wealth Partners increased its position in shares of GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock worth $32,000 after purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in GSK in the 2nd quarter valued at $37,000. Fortitude Family Office LLC purchased a new position in GSK in the 3rd quarter valued at $42,000. Finally, PrairieView Partners LLC acquired a new stake in GSK during the 2nd quarter worth $47,000. Institutional investors and hedge funds own 15.74% of the company's stock.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the business's 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 acquisition, the insider now owns 16,775,691 shares of the company's stock, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.00% of the company's stock.

Analyst Upgrades and Downgrades

GSK has been the subject of a number of recent research reports. Argus upgraded 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 research note on Thursday, October 31st. Jefferies Financial Group cut GSK from a "buy" rating to a "hold" rating and lowered their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Barclays raised GSK to a "hold" rating in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft lowered GSK from a "buy" rating to a "hold" rating in a research note on Friday. Seven equities 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $43.25.

GSK Trading Up 1.1 %

Shares of NYSE:GSK traded up $0.37 during midday trading on Monday, reaching $33.72. 5,867,955 shares of the company's stock were exchanged, compared to its average volume of 4,095,495. The stock has a market cap of $69.89 billion, a price-to-earnings ratio of 21.66, a P/E/G ratio of 1.29 and a beta of 0.66. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The firm's 50 day simple moving average is $39.08 and its two-hundred day simple moving average is $40.68. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.66%. This is an increase from GSK's previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK's payout ratio is 98.70%.

About GSK

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.