Concurrent Investment Advisors LLC Grows Stake in GSK plc (NYSE:GSK)

Concurrent Investment Advisors LLC boosted its holdings in GSK plc (NYSE:GSK) by 59.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,969 shares of the pharmaceutical company’s stock after purchasing an additional 7,080 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in GSK were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC grew its stake in GSK by 448.7% during the first quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock valued at $758,000 after acquiring an additional 14,466 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of GSK by 27.4% during the 1st quarter. Atomi Financial Group Inc. now owns 12,716 shares of the pharmaceutical company’s stock valued at $545,000 after purchasing an additional 2,738 shares during the last quarter. Sei Investments Co. grew its position in shares of GSK by 24.7% during the first quarter. Sei Investments Co. now owns 806,934 shares of the pharmaceutical company’s stock valued at $34,593,000 after purchasing an additional 159,681 shares in the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of GSK in the first quarter worth about $277,000. Finally, QRG Capital Management Inc. lifted its position in shares of GSK by 28.1% in the first quarter. QRG Capital Management Inc. now owns 181,165 shares of the pharmaceutical company’s stock worth $7,767,000 after buying an additional 39,751 shares in the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.

GSK Price Performance

GSK stock opened at $36.29 on Friday. The stock has a market cap of $75.21 billion, a PE ratio of 23.56, a P/E/G ratio of 1.38 and a beta of 0.66. GSK plc has a 12 month low of $33.89 and a 12 month high of $45.92. The company has a 50-day moving average price of $39.95 and a 200 day moving average price of $40.91. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.33%. GSK’s dividend payout ratio is currently 98.70%.

Analysts Set New Price Targets

Several research firms have weighed in on GSK. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Argus upgraded shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Finally, Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GSK presently has an average rating of “Moderate Buy” and an average target price of $50.00.

Insider Transactions at GSK

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 10.00% of the company’s stock.

About GSK

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.