Franklin Resources Inc. Raises Position in GSK plc (NYSE:GSK)

Franklin Resources Inc. raised its holdings in shares of GSK plc (NYSE:GSK) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 235,348 shares of the pharmaceutical company’s stock after buying an additional 18,539 shares during the quarter. Franklin Resources Inc.’s holdings in GSK were worth $9,052,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GSK. Eastern Bank purchased a new position in shares of GSK during the third quarter worth about $26,000. Sunbelt Securities Inc. grew its stake in GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock worth $29,000 after buying an additional 302 shares in the last quarter. Concord Wealth Partners increased its holdings in shares of GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of GSK during the 2nd quarter valued at $37,000. Finally, Fortitude Family Office LLC bought a new stake in shares of GSK during the 3rd quarter worth $42,000. 15.74% of the stock is currently owned by institutional investors.

GSK Trading Up 0.5 %

NYSE:GSK opened at $33.60 on Friday. The company has a 50-day moving average price of $35.65 and a 200-day moving average price of $38.92. The stock has a market cap of $69.64 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 1.54 and a beta of 0.64. 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 12 month low of $32.83 and a 12 month high of $45.92.

GSK Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 4.68%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s payout ratio is presently 98.70%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GSK shares. Deutsche Bank Aktiengesellschaft downgraded 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 research report on Tuesday, August 27th. StockNews.com cut shares of GSK from a “strong-buy” rating to a “buy” rating in a research report on Friday. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Finally, Guggenheim lowered shares of 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 given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.25.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the stock in a transaction on Friday, September 27th. The stock was 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. 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 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.