Old Port Advisors Sells 4,468 Shares of GSK plc (NYSE:GSK)

Old Port Advisors decreased its stake in shares of GSK plc (NYSE:GSK) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,817 shares of the pharmaceutical company’s stock after selling 4,468 shares during the quarter. Old Port Advisors’ holdings in GSK were worth $1,955,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Eastern Bank purchased a new position in GSK during the 3rd quarter valued at approximately $26,000. Sunbelt Securities Inc. grew its holdings in shares of GSK by 73.8% in the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares in the last quarter. Concord Wealth Partners increased its position 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 purchasing an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in GSK during the second quarter valued at $37,000. Finally, Fortitude Family Office LLC bought a new position in GSK during the third quarter valued at $42,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and reduced their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. StockNews.com upgraded GSK from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 28th. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Up 0.3 %

Shares of GSK traded up $0.10 during mid-day trading on Thursday, reaching $33.92. 491,666 shares of the company’s stock traded hands, compared to its average volume of 4,135,944. 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 stock’s 50-day moving average is $34.90 and its two-hundred day moving average is $38.51. GSK plc has a 12 month low of $32.83 and a 12 month high of $45.92. The stock has a market cap of $70.30 billion, a P/E ratio of 22.03, a P/E/G ratio of 1.54 and a beta of 0.64.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a $0.3928 dividend. This represents a $1.57 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is 98.70%.

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.