CWA Asset Management Group LLC Purchases New Shares in GSK plc (NYSE:GSK)

CWA Asset Management Group LLC acquired a new position in GSK plc (NYSE:GSK) in the third quarter, HoldingsChannel.com reports. The fund acquired 46,607 shares of the pharmaceutical company’s stock, valued at approximately $1,905,000.

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

Insider Buying and Selling

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

GSK Stock Performance

GSK opened at $36.29 on Friday. The firm has a market capitalization of $75.21 billion, a PE ratio of 23.56, a PEG ratio of 1.38 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. GSK plc has a twelve month low of $33.89 and a twelve month high of $45.92. The firm’s 50-day moving average price is $39.95 and its 200 day moving average price is $40.91.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be given a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.33%. GSK’s dividend payout ratio is 98.70%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on GSK shares. 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 research note on Tuesday, August 27th. Finally, Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, GSK presently has an average rating of “Moderate Buy” and a consensus target price of $50.00.

About GSK

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.