291,059 GSK PLC Sponsored ADR $GSK Shares Purchased by Equity Investment Corp

Equity Investment Corp boosted its position in GSK PLC Sponsored ADR (NYSE:GSK) by 8.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,560,824 shares of the pharmaceutical company’s stock after buying an additional 291,059 shares during the period. GSK makes up about 2.4% of Equity Investment Corp’s holdings, making the stock its 6th biggest position. Equity Investment Corp’s holdings in GSK were worth $171,525,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 71 West Capital Partners raised its position in GSK by 19.7% during the 3rd quarter. 71 West Capital Partners now owns 5,536 shares of the pharmaceutical company’s stock worth $267,000 after buying an additional 912 shares during the last quarter. Texas Bank & Trust Co boosted its holdings in shares of GSK by 2.4% in the third quarter. Texas Bank & Trust Co now owns 16,432 shares of the pharmaceutical company’s stock valued at $792,000 after acquiring an additional 384 shares in the last quarter. Gryphon Financial Partners LLC boosted its holdings in shares of GSK by 6.1% in the third quarter. Gryphon Financial Partners LLC now owns 16,532 shares of the pharmaceutical company’s stock valued at $796,000 after acquiring an additional 952 shares in the last quarter. Leuthold Group LLC increased its stake in shares of GSK by 9.6% during the third quarter. Leuthold Group LLC now owns 106,506 shares of the pharmaceutical company’s stock worth $5,130,000 after acquiring an additional 9,324 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of GSK by 6.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 25,763 shares of the pharmaceutical company’s stock worth $1,215,000 after acquiring an additional 1,621 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Trading Down 0.5%

NYSE:GSK opened at $51.27 on Wednesday. The stock has a fifty day moving average price of $49.30 and a two-hundred day moving average price of $52.39. The stock has a market capitalization of $103.70 billion, a price-to-earnings ratio of 10.85, a PEG ratio of 2.32 and a beta of 0.29. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.56 and a current ratio of 0.86. GSK PLC Sponsored ADR has a 1 year low of $45.81 and a 1 year high of $61.69.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4518 per share. This represents a $1.81 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, November 13th. This is an increase from GSK’s previous quarterly dividend of $0.4515. GSK’s payout ratio is presently 61.46%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of GSK in a report on Friday, October 9th. They set an “outperform” rating and a $70.00 price target for the company. JPMorgan Chase & Co. restated a “sell” rating on shares of GSK in a research report on Thursday, October 1st. Sanford C. Bernstein reaffirmed a “buy” rating on shares of GSK in a report on Sunday, August 2nd. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and dropped their target price for the stock from $67.40 to $55.90 in a research report on Thursday, October 29th. Finally, Barclays reiterated a “sell” rating on shares of GSK in a research report on Monday, September 7th. Three analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, GSK has a consensus rating of “Hold” and a consensus price target of $56.30.

GSK Company Profile

GSK plc is a global biopharmaceutical company headquartered in the United Kingdom. It researches, develops and manufactures medicines and vaccines, with a focus on areas including infectious diseases, HIV, respiratory and immune conditions, and cancer. Its products include vaccines such as Shingrix, which helps prevent shingles, and Arexvy, for respiratory syncytial virus (RSV). GSK also makes specialty medicines, including treatments for HIV and respiratory diseases, and continues to develop new medicines and vaccines through its research programs.