Heritage Oak Wealth Advisors LLC Buys Shares of 9,298 GSK plc (NYSE:GSK)

Heritage Oak Wealth Advisors LLC purchased a new position in GSK plc (NYSE:GSK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,298 shares of the pharmaceutical company’s stock, valued at approximately $380,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. JTC Employer Solutions Trustee Ltd lifted its holdings in GSK by 71.3% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock valued at $909,063,000 after purchasing an additional 8,800,822 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of GSK by 13.9% during the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after buying an additional 1,773,020 shares during the period. Mondrian Investment Partners LTD boosted its position in GSK by 37.8% during the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after acquiring an additional 1,512,442 shares during the last quarter. Equity Investment Corp grew its stake in GSK by 1.0% in the 2nd quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock worth $132,178,000 after acquiring an additional 34,631 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of GSK by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock worth $90,398,000 after purchasing an additional 554,600 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 10.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GSK. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Jefferies Financial Group boosted their price target on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Four analysts have rated the stock with a hold rating, two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $50.00.

GSK Stock Performance

Shares of NYSE:GSK traded up $0.23 on Friday, reaching $37.97. 697,083 shares of the company’s stock were exchanged, compared to its average volume of 3,732,154. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. The business’s 50-day moving average is $41.20 and its two-hundred day moving average is $41.16. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The firm has a market capitalization of $78.69 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.30 and a beta of 0.65.

GSK (NYSE:GSK) last announced its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.09. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.49 billion. GSK had a return on equity of 51.48% and a net margin of 12.87%. As a group, equities research analysts forecast that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Friday, August 16th were given a dividend of $0.3843 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 4.05%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 55.80%.

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.