Second Line Capital LLC Makes New Investment in GSK plc (NYSE:GSK)

Second Line Capital LLC acquired a new stake in shares of GSK plc (NYSE:GSK) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 5,955 shares of the pharmaceutical company’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also modified their holdings of GSK. Sunbelt Securities Inc. lifted its position in GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after acquiring an additional 302 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of GSK by 9.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock valued at $137,000 after purchasing an additional 303 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its position in shares of GSK by 2.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock worth $682,000 after buying an additional 323 shares during the period. International Assets Investment Management LLC grew its holdings in shares of GSK by 6.3% during the second quarter. International Assets Investment Management LLC now owns 5,535 shares of the pharmaceutical company’s stock worth $213,000 after buying an additional 327 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its position in GSK by 6.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,608 shares of the pharmaceutical company’s stock valued at $232,000 after buying an additional 332 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

GSK has been the subject of a number of recent research reports. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and reduced their price target for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. StockNews.com downgraded shares of GSK from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Performance

Shares of GSK opened at $35.19 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The firm has a 50-day moving average of $36.56 and a 200-day moving average of $39.50. The company has a market cap of $72.93 billion, a PE ratio of 22.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.64. GSK plc has a one year low of $32.83 and a one year high of $45.92.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 99.35%.

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.