GSK plc (NYSE:GSK) Stake Raised by Cerity Partners LLC

Cerity Partners LLC boosted its holdings in shares of GSK plc (NYSE:GSK) by 61.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 433,628 shares of the pharmaceutical company’s stock after acquiring an additional 165,556 shares during the quarter. Cerity Partners LLC’s holdings in GSK were worth $17,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Natixis Advisors LLC boosted its holdings in shares of GSK by 20.0% during the third quarter. Natixis Advisors LLC now owns 500,495 shares of the pharmaceutical company’s stock worth $20,460,000 after purchasing an additional 83,433 shares during the period. Nwam LLC acquired a new stake in shares of GSK during the 3rd quarter valued at $625,000. Van ECK Associates Corp grew its holdings in shares of GSK by 8.4% during the 3rd quarter. Van ECK Associates Corp now owns 736,510 shares of the pharmaceutical company’s stock valued at $27,973,000 after acquiring an additional 56,843 shares in the last quarter. Cohen Investment Advisors LLC acquired a new position in shares of GSK in the second quarter worth $349,000. Finally, Equity Investment Corp raised its holdings in shares of GSK by 1.8% during the third quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company’s stock worth $142,927,000 after acquiring an additional 63,052 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Up 0.6 %

GSK opened at $34.15 on Tuesday. The firm has a market cap of $70.78 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.30 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 business has a 50 day moving average price of $37.90 and a 200 day moving average price of $40.25. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.60%. The ex-dividend date is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 99.35%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised GSK to a “hold” rating in a research note on Tuesday, August 27th. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Finally, Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $43.25.

Insider Activity at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price 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 of the company’s stock, valued at $134,205,528. The trade was a 19.97 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is owned by corporate insiders.

GSK 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.