Janney Montgomery Scott LLC Cuts Stock Position in GSK plc (NYSE:GSK)

Janney Montgomery Scott LLC cut its stake in GSK plc (NYSE:GSK - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 294,806 shares of the pharmaceutical company's stock after selling 16,256 shares during the quarter. Janney Montgomery Scott LLC's holdings in GSK were worth $12,052,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk acquired 2,791,930 shares of the business's stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company's stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by corporate insiders.

GSK Price Performance

GSK stock traded up $0.76 during midday trading on Thursday, reaching $36.66. 14,846,452 shares of the stock were exchanged, compared to its average volume of 3,973,141. GSK plc has a 52 week low of $33.89 and a 52 week high of $45.92. 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 has a market cap of $75.98 billion, a PE ratio of 23.81, a PEG ratio of 1.42 and a beta of 0.66. The company's fifty day moving average is $40.25 and its 200-day moving average is $40.97.

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 given a $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Friday, November 15th. This is an increase from GSK's previous quarterly dividend of $0.38. GSK's dividend payout ratio (DPR) is 100.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GSK shares. Argus upgraded shares of GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Barclays upgraded shares of GSK to a "hold" rating in a research note on Tuesday, August 27th. Finally, Guggenheim downgraded GSK from a "buy" rating to a "neutral" rating in a research report on Thursday, October 31st. Five research analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, GSK presently has an average rating of "Moderate Buy" and a consensus target price of $50.00.

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.