Provident Trust Co. Has $161.62 Million Stock Position in GSK plc (NYSE:GSK)

Provident Trust Co. lifted its stake in GSK plc (NYSE:GSK - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,953,602 shares of the pharmaceutical company's stock after buying an additional 66,765 shares during the period. GSK comprises 2.9% of Provident Trust Co.'s portfolio, making the stock its 15th biggest holding. Provident Trust Co. owned approximately 0.19% of GSK worth $161,623,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC grew its holdings in shares of GSK by 448.7% during the 1st quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company's stock worth $758,000 after purchasing an additional 14,466 shares in the last quarter. Clifford Capital Partners LLC increased its holdings in GSK by 2.8% in the 1st quarter. Clifford Capital Partners LLC now owns 295,258 shares of the pharmaceutical company's stock valued at $12,658,000 after buying an additional 8,046 shares during the period. Atomi Financial Group Inc. raised its stake in shares of GSK by 27.4% in the 1st quarter. Atomi Financial Group Inc. now owns 12,716 shares of the pharmaceutical company's stock valued at $545,000 after buying an additional 2,738 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of GSK by 24.7% during the 1st quarter. Sei Investments Co. now owns 806,934 shares of the pharmaceutical company's stock worth $34,593,000 after acquiring an additional 159,681 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of GSK during the 1st quarter valued at about $277,000. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Price Performance

Shares of NYSE:GSK traded down $0.37 during trading on Friday, reaching $36.29. The stock had a trading volume of 8,866,773 shares, compared to its average volume of 6,274,321. The stock has a market capitalization of $75.21 billion, a PE ratio of 23.56, a P/E/G ratio of 1.38 and a beta of 0.66. GSK plc has a 52 week low of $33.89 and a 52 week high of $45.92. The business's 50-day moving average price is $39.95 and its 200 day moving average price is $40.91. 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.33%. This is a positive change from GSK's previous quarterly dividend of $0.38. GSK's payout ratio is currently 98.70%.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 10.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on GSK shares. Guggenheim cut shares of GSK from a "buy" rating to a "neutral" rating in a research note on Thursday, October 31st. Barclays upgraded GSK to a "hold" rating in a research report on Tuesday, August 27th. Finally, Argus upgraded GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Five equities 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.00.

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.