Sanctuary Advisors LLC Boosts Stock Position in GSK plc (NYSE:GSK)

Sanctuary Advisors LLC lifted its position in shares of GSK plc (NYSE:GSK) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 272,560 shares of the pharmaceutical company’s stock after buying an additional 577 shares during the period. Sanctuary Advisors LLC’s holdings in GSK were worth $11,142,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eastern Bank purchased a new position in shares of GSK during the third quarter worth approximately $26,000. Sunbelt Securities Inc. grew its holdings in shares of GSK by 73.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares during the last quarter. Concord Wealth Partners raised its position in GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in GSK in the second quarter worth $37,000. Finally, Fortitude Family Office LLC bought a new position in shares of GSK during the third quarter valued at about $42,000. Institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK stock opened at $33.95 on Friday. The company has a market cap of $70.35 billion, a PE ratio of 22.04, a P/E/G ratio of 1.54 and a beta of 0.64. The business has a 50 day moving average of $36.18 and a 200 day moving average of $39.28. GSK plc has a 52 week low of $32.83 and a 52 week 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 announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be given a $0.3928 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.63%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio (DPR) is currently 99.35%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays raised GSK to a “hold” rating in a research note on Tuesday, August 27th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Thursday. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and decreased their target price for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Seven investment analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Activity

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.00% of the company’s stock.

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.