Pathstone Holdings LLC Acquires 26,707 Shares of GSK plc (NYSE:GSK)

Pathstone Holdings LLC lifted its holdings in shares of GSK plc (NYSE:GSK - Free Report) by 12.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 246,614 shares of the pharmaceutical company's stock after purchasing an additional 26,707 shares during the quarter. Pathstone Holdings LLC's holdings in GSK were worth $10,086,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

GSK has been the subject of several recent analyst reports. Jefferies Financial Group downgraded shares of GSK from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Barclays raised GSK to a "hold" rating in a research report on Tuesday, August 27th. Guggenheim downgraded GSK from a "buy" rating to a "neutral" rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded GSK from a "buy" rating to a "hold" rating in a research report on Friday, November 15th. Finally, Argus raised GSK to a "strong-buy" rating in a research report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $43.25.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the business's stock in a transaction dated Friday, September 27th. The stock was bought at an average price 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 of the company's stock, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 10.00% of the company's stock.

GSK Stock Down 0.3 %

GSK stock opened at $33.36 on Thursday. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. The company has a market cap of $69.14 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.29 and a beta of 0.66. The business's 50-day simple moving average is $38.46 and its 200 day simple moving average is $40.49. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.71%. This is an increase from GSK's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK's payout ratio is presently 99.35%.

GSK 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.