CWA Asset Management Group LLC Makes New $1.91 Million Investment in GSK plc (NYSE:GSK)

CWA Asset Management Group LLC purchased a new stake in GSK plc (NYSE:GSK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 46,607 shares of the pharmaceutical company’s stock, valued at approximately $1,905,000.

Several other hedge funds have also recently modified their holdings of GSK. Van ECK Associates Corp grew its stake in GSK by 8.4% in the third quarter. Van ECK Associates Corp now owns 736,510 shares of the pharmaceutical company’s stock valued at $27,973,000 after purchasing an additional 56,843 shares during the last quarter. Cohen Investment Advisors LLC purchased a new position in shares of GSK in the 2nd quarter worth approximately $349,000. Blair William & Co. IL grew its position in shares of GSK by 14.9% in the 1st quarter. Blair William & Co. IL now owns 23,493 shares of the pharmaceutical company’s stock worth $1,007,000 after buying an additional 3,044 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of GSK by 448.7% during the 1st quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock worth $758,000 after acquiring an additional 14,466 shares in the last quarter. Finally, US Bancorp DE lifted its position in GSK by 12.2% during the third quarter. US Bancorp DE now owns 236,770 shares of the pharmaceutical company’s stock valued at $9,679,000 after acquiring an additional 25,781 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

GSK Stock Performance

Shares of GSK opened at $36.29 on Friday. The stock has a 50-day moving average of $39.95 and a two-hundred day moving average of $40.91. 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 market cap of $75.21 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.38 and a beta of 0.66. GSK plc has a one year low of $33.89 and a one year high of $45.92.

GSK Increases Dividend

The company 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. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.33%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 98.70%.

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.