Nicholas Hoffman & Company LLC. Sells 1,032 Shares of GSK plc (NYSE:GSK)

Nicholas Hoffman & Company LLC. lessened its stake in GSK plc (NYSE:GSK) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,455 shares of the pharmaceutical company’s stock after selling 1,032 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in GSK were worth $1,654,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GSK. Eastern Bank bought a new position in shares of GSK during the 3rd quarter worth $26,000. Concord Wealth Partners lifted its stake in shares of GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in GSK in the 2nd quarter worth approximately $37,000. Fortitude Family Office LLC purchased a new stake in shares of GSK during the third quarter worth $42,000. Finally, PrairieView Partners LLC bought a new position in shares of GSK in the second quarter worth $47,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Up 0.8 %

GSK opened at $38.18 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $40.98 and its 200 day simple moving average is $41.11. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92. The stock has a market cap of $79.12 billion, a PE ratio of 13.83, a P/E/G ratio of 1.23 and a beta of 0.65.

GSK (NYSE:GSK) last announced its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GSK had a return on equity of 51.48% and a net margin of 12.87%. As a group, research analysts expect that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Friday, August 16th were paid a $0.3843 dividend. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.03%. GSK’s dividend payout ratio is 55.80%.

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group upped their price target on shares of GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $50.00.

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.