Fulton Bank N.A. Purchases New Stake in GSK plc (NYSE:GSK)

Fulton Bank N.A. purchased a new stake in GSK plc (NYSE:GSK) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,576 shares of the pharmaceutical company’s stock, valued at approximately $391,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cohen Investment Advisors LLC purchased a new position in GSK in the second quarter worth approximately $349,000. Blair William & Co. IL grew its position in GSK by 14.9% in the first quarter. Blair William & Co. IL now owns 23,493 shares of the pharmaceutical company’s stock worth $1,007,000 after acquiring an additional 3,044 shares during the period. SG Americas Securities LLC grew its position in GSK by 448.7% in the first quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock worth $758,000 after acquiring an additional 14,466 shares during the period. CreativeOne Wealth LLC purchased a new position in GSK in the first quarter worth approximately $235,000. Finally, Thomasville National Bank grew its position in GSK by 5.3% in the first quarter. Thomasville National Bank now owns 453,795 shares of the pharmaceutical company’s stock worth $19,454,000 after acquiring an additional 23,022 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GSK. Jefferies Financial Group increased their price objective on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Citigroup upgraded GSK to a “strong-buy” rating in a research report on Monday, June 24th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $50.00.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.

GSK Trading Up 5.8 %

NYSE:GSK opened at $40.24 on Thursday. The firm has a market cap of $83.40 billion, a PE ratio of 14.58, a price-to-earnings-growth ratio of 1.31 and a beta of 0.65. The stock has a fifty day moving average price of $41.51 and a 200 day moving average price of $41.44. GSK plc has a 12-month low of $33.67 and a 12-month high of $45.92. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99.

GSK (NYSE:GSK) last released its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The firm had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.49 billion. Sell-side analysts anticipate that GSK plc will post 4.17 earnings per share for the current fiscal year.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.82%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 54.71%.

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.