First City Capital Management Inc. Lowers Stake in GSK plc (NYSE:GSK)

First City Capital Management Inc. reduced its stake in shares of GSK plc (NYSE:GSK) by 14.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,488 shares of the pharmaceutical company’s stock after selling 1,220 shares during the quarter. First City Capital Management Inc.’s holdings in GSK were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

GSK Trading Up 1.0 %

Shares of GSK stock opened at $33.70 on Tuesday. The firm’s 50-day moving average price is $38.88 and its 200 day moving average price is $40.61. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. The firm has a market capitalization of $69.84 billion, a PE ratio of 21.88, a P/E/G ratio of 1.28 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 company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.66%. GSK’s payout ratio is currently 99.35%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a report on Friday. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and dropped their price objective for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Seven investment analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, GSK has an average rating of “Moderate Buy” and a consensus price target of $43.25.

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction on 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 acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 10.00% of the stock is 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.