Planning Capital Management Corp Lowers Holdings in GSK plc (NYSE:GSK)

Planning Capital Management Corp reduced its stake in shares of GSK plc (NYSE:GSK) by 32.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,323 shares of the pharmaceutical company’s stock after selling 648 shares during the quarter. Planning Capital Management Corp’s holdings in GSK were worth $54,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. grew its position in GSK by 9.1% during the 1st quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock worth $132,000 after purchasing an additional 257 shares during the last quarter. Boltwood Capital Management raised its position in shares of GSK by 2.5% in the second quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock valued at $429,000 after buying an additional 270 shares during the last quarter. First Affirmative Financial Network boosted its position in shares of GSK by 4.7% during the 2nd quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after acquiring an additional 283 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of GSK by 9.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 303 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of GSK by 2.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock valued at $682,000 after buying an additional 323 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

Insider Activity at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of GSK stock in a transaction on Friday, September 27th. The shares were bought at an average price 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 approximately $134,205,528. This represents a 19.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and dropped their price target for the stock from $53.00 to $39.50 in a research note on Tuesday. Finally, Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Six analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Price Performance

Shares of NYSE GSK opened at $34.38 on Friday. GSK plc has a 1-year low of $34.29 and a 1-year high of $45.92. The business has a 50-day moving average of $39.46 and a 200-day moving average of $40.80. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The company has a market capitalization of $71.24 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.35 and a beta of 0.66.

GSK Increases Dividend

The firm 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 of this dividend is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.57%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 100.00%.

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.