Oppenheimer & Co. Inc. Raises Position in GSK plc (NYSE:GSK)

Oppenheimer & Co. Inc. increased its position in GSK plc (NYSE:GSK) by 6.7% during the third quarter, HoldingsChannel.com reports. The fund owned 66,645 shares of the pharmaceutical company’s stock after acquiring an additional 4,204 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in GSK were worth $2,724,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

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 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GSK. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and reduced their target price for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday. Argus upgraded 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. Finally, Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Trading Down 1.9 %

Shares of GSK opened at $33.35 on Friday. The company has a market capitalization of $69.12 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.35 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a 50-day moving average price of $39.08 and a 200 day moving average price of $40.69. GSK plc has a one year low of $32.83 and a one year high of $45.92.

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 dividend of $0.3928 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a dividend yield of 4.71%. GSK’s dividend payout ratio (DPR) is presently 100.00%.

GSK Company 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.