CWA Asset Management Group LLC Invests $1.91 Million in GSK plc (NYSE:GSK)

CWA Asset Management Group LLC purchased a new stake in GSK plc (NYSE:GSK - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 46,607 shares of the pharmaceutical company's stock, valued at approximately $1,905,000.

Several other hedge funds and other institutional investors also recently modified their holdings of GSK. Eastern Bank purchased a new position in GSK during the 3rd quarter valued at about $26,000. Concord Wealth Partners grew its stake in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock valued at $32,000 after acquiring an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in GSK during the second quarter valued at approximately $37,000. Fortitude Family Office LLC bought a new stake in GSK during the 3rd quarter worth approximately $42,000. Finally, PrairieView Partners LLC purchased a new stake in GSK in the 2nd quarter worth approximately $47,000. Institutional investors own 15.74% of the company's stock.

GSK Price Performance

GSK traded down $0.37 during trading on Friday, reaching $36.29. The stock had a trading volume of 8,866,773 shares, compared to its average volume of 6,274,321. The business has a 50-day moving average of $39.95 and a 200-day moving average of $40.91. GSK plc has a one year low of $33.89 and a one year 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 market cap of $75.21 billion, a PE ratio of 23.56, a PEG ratio of 1.38 and a beta of 0.66.

GSK Increases Dividend

The firm also recently disclosed 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. This is a boost from GSK's previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.33%. GSK's dividend payout ratio is 98.70%.

Insider Activity at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm's stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 10.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GSK. Barclays raised shares of GSK to a "hold" rating in a report on Tuesday, August 27th. Guggenheim lowered GSK from a "buy" rating to a "neutral" rating in a research note on Thursday, October 31st. Finally, Argus upgraded GSK to a "strong-buy" rating in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $50.00.

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.