Prospera Financial Services Inc Sells 2,121 Shares of GSK plc (NYSE:GSK)

Prospera Financial Services Inc reduced its holdings in shares of GSK plc (NYSE:GSK) by 10.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,881 shares of the pharmaceutical company’s stock after selling 2,121 shares during the period. Prospera Financial Services Inc’s holdings in GSK were worth $731,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Primecap Management Co. CA grew its position in GSK by 13.9% during the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after acquiring an additional 1,773,020 shares during the last quarter. Provident Trust Co. grew its position in GSK by 1.7% during the third quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock valued at $161,623,000 after acquiring an additional 66,765 shares during the last quarter. Equity Investment Corp grew its position in GSK by 1.8% during the third quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company’s stock valued at $142,927,000 after acquiring an additional 63,052 shares during the last quarter. Renaissance Technologies LLC grew its position in GSK by 30.9% during the second quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock valued at $90,398,000 after acquiring an additional 554,600 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in GSK by 33.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock valued at $86,875,000 after acquiring an additional 569,614 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors.

GSK Stock Performance

NYSE:GSK opened at $33.96 on Friday. The stock has a market cap of $70.37 billion, a P/E ratio of 22.05, a price-to-earnings-growth ratio of 1.29 and a beta of 0.66. The firm’s fifty day simple moving average is $38.09 and its 200 day simple moving average is $40.37. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.63%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 98.70%.

Analyst Upgrades and Downgrades

GSK has been the topic of a number of recent research reports. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and reduced their price target for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Seven analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Activity at GSK

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $8.00 per share, with a total value 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 represents a 19.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by company insiders.

GSK Profile

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.