Bruce G. Allen Investments LLC Has $248,000 Position in GSK plc (NYSE:GSK)

Bruce G. Allen Investments LLC lowered its holdings in GSK plc (NYSE:GSK) by 14.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,063 shares of the pharmaceutical company’s stock after selling 1,002 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in GSK were worth $248,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Register Financial Advisors LLC bought a new position in GSK during the 1st quarter valued at $31,000. Ashton Thomas Private Wealth LLC bought a new position in GSK during the 2nd quarter valued at $37,000. Richardson Financial Services Inc. bought a new position in GSK during the 4th quarter valued at $40,000. PrairieView Partners LLC bought a new position in GSK during the 2nd quarter valued at $47,000. Finally, Triad Wealth Partners LLC bought a new position in GSK during the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Stock Up 5.8 %

Shares of NYSE GSK opened at $40.24 on Thursday. 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. The firm has a market capitalization of $83.40 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 1.31 and a beta of 0.65. The business has a 50-day moving average of $41.51 and a 200-day moving average of $41.44.

GSK (NYSE:GSK) last released its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping 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 company had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.49 billion. Sell-side analysts expect that GSK plc will post 4.17 earnings per share for the current fiscal year.

GSK Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GSK shares. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Barclays upgraded GSK to a “hold” rating in a research note on Tuesday, August 27th. Jefferies Financial Group lifted their target price on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, UBS Group cut GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $50.00.

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction 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 completion of the transaction, 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 position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate 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.