B. Riley Wealth Advisors Inc. Cuts Holdings in GSK plc (NYSE:GSK)

B. Riley Wealth Advisors Inc. decreased its holdings in GSK plc (NYSE:GSK) by 19.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,838 shares of the pharmaceutical company’s stock after selling 7,633 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in GSK were worth $1,227,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. DGS Capital Management LLC lifted its stake in shares of GSK by 3.9% during the 3rd quarter. DGS Capital Management LLC now owns 34,438 shares of the pharmaceutical company’s stock worth $1,408,000 after purchasing an additional 1,304 shares during the last quarter. Logan Capital Management Inc. lifted its position in shares of GSK by 3.8% during the third quarter. Logan Capital Management Inc. now owns 83,923 shares of the pharmaceutical company’s stock valued at $3,431,000 after buying an additional 3,083 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of GSK by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 235,348 shares of the pharmaceutical company’s stock valued at $9,052,000 after buying an additional 18,539 shares in the last quarter. Optimist Retirement Group LLC grew its position in shares of GSK by 3.7% in the 3rd quarter. Optimist Retirement Group LLC now owns 49,554 shares of the pharmaceutical company’s stock worth $2,026,000 after buying an additional 1,790 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of GSK in the 3rd quarter worth approximately $787,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.00% of the stock is owned by insiders.

GSK Stock Performance

Shares of GSK stock opened at $33.59 on Tuesday. The business has a fifty day moving average of $36.08 and a 200 day moving average of $39.14. GSK plc has a 1 year low of $32.83 and a 1 year high of $45.92. 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 firm has a market capitalization of $69.61 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.64.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.68%. GSK’s payout ratio 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.