Summit Global Investments Acquires 25,747 Shares of GSK PLC Sponsored ADR $GSK

Summit Global Investments grew its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 123.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 46,599 shares of the pharmaceutical company’s stock after buying an additional 25,747 shares during the period. Summit Global Investments’ holdings in GSK were worth $2,245,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GSK. Laurel Wealth Advisors LLC bought a new stake in shares of GSK during the 3rd quarter worth approximately $36,000. Security National Bank of SO Dak purchased a new position in GSK during the 2nd quarter valued at $38,000. Trust Co. of Vermont bought a new position in GSK in the 2nd quarter valued at $54,000. Philadelphia Investment Partners LLC purchased a new stake in GSK in the second quarter worth $70,000. Finally, Ancora Advisors LLC bought a new stake in shares of GSK during the second quarter worth $71,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Stock Performance

Shares of GSK stock opened at $49.48 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.52 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average price is $49.44 and its 200-day moving average price is $52.34. The firm has a market cap of $100.08 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.18 and a beta of 0.33. GSK PLC Sponsored ADR has a 12 month low of $45.81 and a 12 month high of $61.69.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.4518 per share. This represents a $1.81 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, November 13th. This is a positive change from GSK’s previous quarterly dividend of $0.4515. GSK’s dividend payout ratio (DPR) is currently 61.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays reissued a “sell” rating on shares of GSK in a research note on Monday, September 7th. JPMorgan Chase & Co. reaffirmed a “sell” rating on shares of GSK in a research note on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reaffirmed a “neutral” rating on shares of GSK in a research note on Tuesday, September 29th. Royal Bank Of Canada initiated coverage on shares of GSK in a report on Tuesday, September 8th. They set a “sector perform” rating for the company. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of GSK in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.30.

About GSK

GSK plc, formerly GlaxoSmithKline, is a global biopharmaceutical company headquartered in Brentford, England. The company focuses on researching, developing and commercializing medicines and vaccines designed to prevent and treat infectious diseases, respiratory conditions, immune-related disorders and certain cancers.

Its vaccine portfolio includes products such as Shingrix for shingles, Arexvy for respiratory syncytial virus (RSV) in older adults, and vaccines targeting meningitis, influenza and other infectious diseases.