PNC Financial Services Group Inc. Sells 7,684 Shares of GSK plc (NYSE:GSK)

PNC Financial Services Group Inc. reduced its position in shares of GSK plc (NYSE:GSK) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 242,905 shares of the pharmaceutical company’s stock after selling 7,684 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GSK were worth $9,930,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its holdings in shares of GSK by 9.1% in the 1st quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock valued at $132,000 after purchasing an additional 257 shares during the period. Boltwood Capital Management increased its position in GSK by 2.5% during the second quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock worth $429,000 after buying an additional 270 shares during the last quarter. First Affirmative Financial Network raised its stake in GSK by 4.7% in the second quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after buying an additional 283 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of GSK by 9.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock valued at $137,000 after buying an additional 303 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its stake in shares of GSK by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock worth $682,000 after acquiring an additional 323 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

Analysts Set New Price Targets

GSK has been the topic of a number of research analyst reports. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and decreased their price target for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Barclays upgraded 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, November 15th. Seven analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Performance

Shares of NYSE:GSK opened at $33.96 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The company’s 50 day moving average price is $38.09 and its two-hundred day moving average price is $40.37. The firm has a market cap of $70.37 billion, a PE ratio of 22.05, a PEG ratio of 1.29 and a beta of 0.66.

GSK Increases Dividend

The business 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 dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is 98.70%.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.

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.