Van ECK Associates Corp Buys 56,843 Shares of GSK plc (NYSE:GSK)

Van ECK Associates Corp lifted its position in shares of GSK plc (NYSE:GSK) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 736,510 shares of the pharmaceutical company’s stock after acquiring an additional 56,843 shares during the period. Van ECK Associates Corp’s holdings in GSK were worth $27,973,000 as of its most recent filing with the Securities & Exchange Commission.

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

GSK Price Performance

NYSE:GSK opened at $36.97 on Tuesday. The stock has a market capitalization of $76.62 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 1.45 and a beta of 0.66. GSK plc has a 52 week low of $33.89 and a 52 week high of $45.92. The company has a quick ratio of 0.54, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The stock’s 50-day moving average price is $40.55 and its 200-day moving average price is $41.03.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be issued a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.25%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is presently 100.00%.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The shares were purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, GSK currently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

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.