Connor Clark & Lunn Investment Management Ltd. raised its position in shares of GSK plc (NYSE:GSK - Free Report) by 420.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 564,934 shares of the pharmaceutical company's stock after purchasing an additional 456,319 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in GSK were worth $23,095,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Eastern Bank purchased a new stake in shares of GSK in the third quarter worth about $26,000. Concord Wealth Partners boosted its stake in shares of 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 during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of GSK in the second quarter worth about $37,000. Fortitude Family Office LLC purchased a new stake in shares of GSK in the third quarter worth about $42,000. Finally, PrairieView Partners LLC purchased a new stake in shares of GSK in the second quarter worth about $47,000. Hedge funds and other institutional investors own 15.74% of the company's stock.
Insider Buying and Selling
In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 10.00% of the stock is currently owned by company insiders.
GSK Price Performance
Shares of GSK stock traded up $0.32 during trading hours on Thursday, reaching $33.67. The company had a trading volume of 5,921,425 shares, compared to its average volume of 4,158,264. The company has a market capitalization of $69.79 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.29 and a beta of 0.66. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. 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 has a fifty day moving average of $38.27 and a 200-day moving average of $40.44.
GSK Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a $0.3928 dividend. This represents a $1.57 annualized dividend and a yield of 4.67%. This is a positive change from GSK's previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK's dividend payout ratio is presently 99.35%.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on GSK. Barclays raised GSK to a "hold" rating in a report on Tuesday, August 27th. Argus raised GSK to a "strong-buy" rating in a report on Wednesday, August 7th. Jefferies Financial Group cut GSK from a "buy" rating to a "hold" rating and reduced their target price for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Guggenheim cut GSK from a "buy" rating to a "neutral" rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut GSK from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $43.25.
View Our Latest Analysis on GSK
GSK Profile
(
Free Report)
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.
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