Pitcairn Co. Has $331,000 Stock Position in GSK plc (NYSE:GSK)

Pitcairn Co. cut its holdings in GSK plc (NYSE:GSK) by 14.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,100 shares of the pharmaceutical company’s stock after selling 1,328 shares during the quarter. Pitcairn Co.’s holdings in GSK were worth $331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GSK. Primecap Management Co. CA grew its stake in shares of GSK by 13.9% during the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after buying an additional 1,773,020 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in GSK during the 2nd quarter worth $52,487,000. Dimensional Fund Advisors LP increased its holdings in GSK by 33.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock worth $86,875,000 after purchasing an additional 569,614 shares in the last quarter. Renaissance Technologies LLC raised its position in GSK by 30.9% in the second quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock valued at $90,398,000 after purchasing an additional 554,600 shares during the last quarter. Finally, Armistice Capital LLC boosted its stake in shares of GSK by 55.6% during the second quarter. Armistice Capital LLC now owns 1,500,000 shares of the pharmaceutical company’s stock valued at $57,750,000 after purchasing an additional 536,000 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GSK shares. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, GSK has an average rating of “Moderate Buy” and an average price target of $43.25.

Insider Activity

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 10.00% of the company’s stock.

GSK Price Performance

GSK stock opened at $34.02 on Wednesday. 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’s 50-day moving average is $37.73 and its 200-day moving average is $40.17. The stock has a market capitalization of $70.51 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.30 and a beta of 0.66. GSK plc has a 1 year low of $32.83 and a 1 year high of $45.92.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is 98.70%.

GSK Company 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.