GSK plc (NYSE:GSK) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of GSK plc (NYSE:GSK - Free Report) by 8.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 736,510 shares of the pharmaceutical company's stock after purchasing an additional 56,843 shares during the quarter. Van ECK Associates Corp's holdings in GSK were worth $27,973,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in GSK. Eastern Bank purchased a new stake in shares of GSK during the third quarter valued at $26,000. Concord Wealth Partners lifted its stake 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 acquiring an additional 547 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in GSK in the second quarter worth about $37,000. Fortitude Family Office LLC purchased a new stake in GSK in the third quarter worth about $42,000. Finally, PrairieView Partners LLC purchased a new stake in GSK in the second quarter worth about $47,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the business'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 directly owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company's stock.

GSK Stock Up 0.1 %

Shares of GSK stock traded up $0.04 during mid-day trading on Tuesday, hitting $37.01. 7,088,108 shares of the stock traded hands, compared to its average volume of 3,873,774. The stock has a market cap of $76.70 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.41 and a beta of 0.66. The stock's fifty day moving average is $40.41 and its two-hundred day moving average is $41.01. GSK plc has a 52-week low of $33.89 and a 52-week 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.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.25%. 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 98.70%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GSK. Guggenheim lowered shares of GSK from a "buy" rating to a "neutral" rating in a research note on Thursday, October 31st. Barclays raised shares of GSK to a "hold" rating in a research note on Tuesday, August 27th. Argus raised shares of GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Finally, UBS Group lowered shares of GSK from a "buy" rating to a "neutral" rating in a research note on Monday, July 8th. Five 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $50.00.

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.