Primecap Management Co. CA lifted its position in shares of GSK plc (NYSE:GSK - Free Report) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,853,755 shares of the pharmaceutical company's stock after buying an additional 342,365 shares during the quarter. Primecap Management Co. CA owned approximately 0.72% of GSK worth $607,222,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its position in GSK by 20.0% during the 3rd quarter. Natixis Advisors LLC now owns 500,495 shares of the pharmaceutical company's stock worth $20,460,000 after purchasing an additional 83,433 shares in the last quarter. Van ECK Associates Corp increased its position in GSK by 8.4% during the 3rd quarter. Van ECK Associates Corp now owns 736,510 shares of the pharmaceutical company's stock worth $27,973,000 after purchasing an additional 56,843 shares in the last quarter. Cohen Investment Advisors LLC purchased a new stake in GSK during the 2nd quarter worth about $349,000. Equity Investment Corp increased its position in GSK by 1.8% during the 3rd quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company's stock worth $142,927,000 after purchasing an additional 63,052 shares in the last quarter. Finally, Stockman Wealth Management Inc. increased its position in GSK by 7.7% during the 3rd quarter. Stockman Wealth Management Inc. now owns 209,517 shares of the pharmaceutical company's stock worth $8,565,000 after purchasing an additional 15,024 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company's stock.
Insider Buying and Selling
In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the business's stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares in the company, 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 can be accessed through this link. 10.00% of the stock is currently owned by corporate insiders.
GSK Stock Down 0.3 %
Shares of NYSE:GSK opened at $33.36 on Thursday. The stock has a 50-day simple moving average of $38.46 and a 200-day simple moving average of $40.49. The stock has a market capitalization of $69.14 billion, a P/E ratio of 21.66, a PEG ratio of 1.29 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. GSK plc has a 1 year low of $32.83 and a 1 year high of $45.92.
GSK Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a dividend of $0.3928 per share. The ex-dividend date is Friday, November 15th. This is a positive change from GSK's previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.71%. GSK's payout ratio is 99.35%.
Wall Street Analyst Weigh In
GSK has been the subject of a number of recent research reports. Barclays upgraded GSK to a "hold" rating in a research report on Tuesday, August 27th. Jefferies Financial Group cut GSK from a "buy" rating to a "hold" rating and lowered their price target 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. Argus upgraded GSK to a "strong-buy" rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft cut GSK from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $43.25.
Read Our Latest Stock Report on GSK
GSK Company 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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