Gladstone Institutional Advisory LLC Increases Stock Holdings in GSK plc (NYSE:GSK)

Gladstone Institutional Advisory LLC lifted its stake in shares of GSK plc (NYSE:GSK) by 13.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,814 shares of the pharmaceutical company’s stock after buying an additional 1,410 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in GSK were worth $483,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Eastern Bank purchased a new stake in shares of GSK during the 3rd quarter valued at about $26,000. Concord Wealth Partners raised its holdings in shares of GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 547 shares during the period. Ashton Thomas Private Wealth LLC purchased a new stake in shares of GSK during the 2nd quarter valued at about $37,000. Fortitude Family Office LLC purchased a new stake in shares of GSK during the 3rd quarter valued at about $42,000. Finally, PrairieView Partners LLC purchased a new stake in GSK during the 2nd quarter worth approximately $47,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

GSK has been the topic of several analyst reports. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a report on Thursday. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Five analysts have rated the stock with a hold rating, one has given a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.

GSK Price Performance

Shares of NYSE GSK opened at $36.88 on Monday. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.54 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $76.44 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 1.45 and a beta of 0.66. The business has a 50 day simple moving average of $40.66 and a 200-day simple moving average of $41.04.

GSK Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 4.26%. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s payout ratio is 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.