Atria Investments Inc Decreases Holdings in GSK plc (NYSE:GSK)

Atria Investments Inc reduced its holdings in shares of GSK plc (NYSE:GSK) by 17.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 40,108 shares of the pharmaceutical company’s stock after selling 8,663 shares during the period. Atria Investments Inc’s holdings in GSK were worth $1,640,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in GSK. Eastern Bank bought a new stake in GSK during the 3rd quarter valued at $26,000. Concord Wealth Partners lifted its position in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after acquiring an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in GSK in the second quarter valued at approximately $37,000. Fortitude Family Office LLC purchased a new position in GSK in the third quarter worth $42,000. Finally, PrairieView Partners LLC purchased a new position in GSK during the 2nd quarter worth $47,000. 15.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GSK. Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $39.50 in a research note on Tuesday. Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday. Barclays upgraded GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Down 1.9 %

GSK stock opened at $33.35 on Friday. The stock’s 50 day simple moving average is $39.29 and its two-hundred day simple moving average is $40.75. GSK plc has a 12 month low of $32.83 and a 12 month high of $45.92. The firm has a market cap of $69.11 billion, a PE ratio of 21.65, a P/E/G ratio of 1.35 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a yield of 4.71%. This is an increase 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 presently 100.00%.

Insider Activity at GSK

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 19.97 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is currently owned by corporate 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.