GSK plc (NYSE:GSK) Shares Acquired by Verity Asset Management Inc.

Verity Asset Management Inc. increased its stake in GSK plc (NYSE:GSK) by 43.4% in the third quarter, Holdings Channel reports. The institutional investor owned 13,607 shares of the pharmaceutical company’s stock after acquiring an additional 4,120 shares during the quarter. Verity Asset Management Inc.’s holdings in GSK were worth $556,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sittner & Nelson LLC raised its stake in GSK by 40.8% during the third quarter. Sittner & Nelson LLC now owns 10,353 shares of the pharmaceutical company’s stock valued at $423,000 after buying an additional 3,000 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in shares of GSK by 1.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 360,167 shares of the pharmaceutical company’s stock valued at $14,724,000 after acquiring an additional 5,479 shares during the last quarter. Advisors Management Group Inc. ADV raised its position in shares of GSK by 4.6% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 86,271 shares of the pharmaceutical company’s stock valued at $3,527,000 after acquiring an additional 3,824 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in GSK by 59.6% during the third quarter. Concurrent Investment Advisors LLC now owns 18,969 shares of the pharmaceutical company’s stock worth $775,000 after purchasing an additional 7,080 shares during the last quarter. Finally, RTD Financial Advisors Inc. acquired a new position in GSK in the third quarter worth $287,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on GSK. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $50.00.

GSK Price Performance

NYSE GSK opened at $36.66 on Friday. The company has a 50-day moving average price of $40.25 and a two-hundred day moving average price of $40.97. The stock has a market cap of $75.98 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.42 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 52 week low of $33.89 and a 52 week high of $45.92.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a $0.3928 dividend. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.29%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio (DPR) is currently 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.