Cravens & Co Advisors LLC Sells 881 Shares of GSK plc (NYSE:GSK)

Cravens & Co Advisors LLC lowered its stake in shares of GSK plc (NYSE:GSK) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,459 shares of the pharmaceutical company’s stock after selling 881 shares during the quarter. Cravens & Co Advisors LLC’s holdings in GSK were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its stake in shares of GSK by 4.9% in the 3rd quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock valued at $759,425,000 after purchasing an additional 870,449 shares during the period. Cerity Partners LLC increased its stake in shares of GSK by 61.8% during the third quarter. Cerity Partners LLC now owns 433,628 shares of the pharmaceutical company’s stock valued at $17,728,000 after purchasing an additional 165,556 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of GSK by 20.0% during the third quarter. Natixis Advisors LLC now owns 500,495 shares of the pharmaceutical company’s stock valued at $20,460,000 after acquiring an additional 83,433 shares in the last quarter. Nwam LLC purchased a new position in GSK in the 3rd quarter worth approximately $625,000. Finally, Van ECK Associates Corp lifted its position in GSK by 8.4% in the 3rd quarter. Van ECK Associates Corp now owns 736,510 shares of the pharmaceutical company’s stock valued at $27,973,000 after acquiring an additional 56,843 shares in the last quarter. 15.74% of the stock is owned by institutional investors.

GSK Price Performance

Shares of GSK stock opened at $34.02 on Wednesday. The stock has a market cap of $70.51 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.31 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The stock’s fifty day moving average is $37.73 and its 200 day moving average is $40.17. GSK plc has a one year low of $32.83 and a one year high of $45.92.

GSK Increases Dividend

The firm also recently declared 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 positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 99.35%.

Analysts Set New Price Targets

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

Insider Activity at GSK

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

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.