GSK plc (NYSE:GSK) Stake Lifted by Assetmark Inc.

Assetmark Inc. grew its holdings in shares of GSK plc (NYSE:GSK) by 137.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 19,795 shares of the pharmaceutical company’s stock after acquiring an additional 11,448 shares during the quarter. Assetmark Inc.’s holdings in GSK were worth $809,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC lifted its position in shares of GSK by 25.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 6,823 shares of the pharmaceutical company’s stock worth $279,000 after acquiring an additional 1,402 shares during the period. United Bank lifted its holdings in GSK by 7.3% during the third quarter. United Bank now owns 25,785 shares of the pharmaceutical company’s stock worth $1,054,000 after acquiring an additional 1,760 shares in the last quarter. Provident Trust Co. lifted its holdings in shares of GSK by 1.7% in the third quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock valued at $161,623,000 after purchasing an additional 66,765 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of GSK in the third quarter valued at about $1,905,000. Finally, Verity Asset Management Inc. increased its position in GSK by 43.4% during the third quarter. Verity Asset Management Inc. now owns 13,607 shares of the pharmaceutical company’s stock worth $556,000 after buying an additional 4,120 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of GSK stock in a transaction that occurred on 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 purchase, the insider now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and decreased their target price for the company from $53.00 to $39.50 in a research report on Tuesday. Finally, Barclays upgraded GSK to a “hold” rating in a research note on Tuesday, August 27th. 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 has an average rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Performance

NYSE GSK opened at $33.35 on Friday. The business has a 50-day moving average price of $39.29 and a 200-day moving average price of $40.75. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. The firm has a market cap of $69.11 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. 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 firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be issued a $0.3928 dividend. This represents a $1.57 annualized dividend and a dividend 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 dividend payout ratio is presently 100.00%.

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.