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

Oppenheimer & Co. Inc. raised its stake in shares of GSK plc (NYSE:GSK) by 6.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,645 shares of the pharmaceutical company’s stock after buying 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Eastern Bank purchased a new stake in GSK during the 3rd quarter valued at about $26,000. Concord Wealth Partners raised its position in GSK by 231.8% in the third 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 period. Ashton Thomas Private Wealth LLC purchased a new position in GSK during the second quarter valued at $37,000. Fortitude Family Office LLC bought a new stake in GSK during the 3rd quarter worth approximately $42,000. Finally, PrairieView Partners LLC bought a new stake in shares of GSK during the 2nd quarter valued at $47,000. 15.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk acquired 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, with a total value 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 19.97 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.

GSK Stock Performance

Shares of NYSE:GSK opened at $33.35 on Friday. GSK plc has a 1 year low of $32.83 and a 1 year high of $45.92. The firm has a market capitalization of $69.12 billion, a PE ratio of 21.66, a P/E/G ratio of 1.35 and a beta of 0.66. The business’s 50 day moving average price is $39.08 and its 200-day moving average price is $40.69. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53.

GSK Increases Dividend

The company also recently announced 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. This represents a $1.57 annualized dividend and a yield of 4.71%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s payout ratio is presently 100.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a report on Friday. Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Seven analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. According to MarketBeat.com, GSK presently has an average rating of “Moderate Buy” and a consensus price target of $43.25.

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.