GSK plc (NYSE:GSK) Shares Sold by State Street Corp

State Street Corp cut its stake in shares of GSK plc (NYSE:GSK - Free Report) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,777,921 shares of the pharmaceutical company's stock after selling 24,359 shares during the period. State Street Corp owned approximately 0.33% of GSK worth $279,725,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GSK. Eastern Bank purchased a new stake in shares of GSK during the third quarter worth approximately $26,000. Concord Wealth Partners raised its position in GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock worth $32,000 after buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of GSK in the 2nd quarter worth $37,000. Fortitude Family Office LLC purchased a new stake in shares of GSK in the third quarter valued at about $42,000. Finally, PrairieView Partners LLC acquired a new position in shares of GSK during the second quarter worth about $47,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GSK shares. Jefferies Financial Group lowered GSK from a "buy" rating to a "hold" rating and lowered their price objective for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Barclays upgraded GSK to a "hold" rating in a research note on Tuesday, August 27th. Guggenheim cut GSK from a "buy" rating to a "neutral" rating in a research report on Thursday, October 31st. StockNews.com lowered shares of GSK from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $43.25.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the company's stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 10.00% of the company's stock.

GSK Price Performance

NYSE GSK traded down $0.76 during trading hours on Wednesday, reaching $34.45. The company's stock had a trading volume of 3,937,740 shares, compared to its average volume of 4,165,386. 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's 50-day moving average is $36.46 and its two-hundred day moving average is $39.43. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The stock has a market cap of $71.40 billion, a PE ratio of 22.53, a PEG ratio of 1.33 and a beta of 0.64.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be given a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from GSK's previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.56%. GSK's dividend payout ratio is currently 99.35%.

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.