GSK plc (NYSE:GSK) Shares Acquired by Assetmark Inc.

Assetmark Inc. raised its holdings in GSK plc (NYSE:GSK) by 137.2% during the third quarter, Holdings Channel.com reports. The firm owned 19,795 shares of the pharmaceutical company’s stock after purchasing an additional 11,448 shares during the quarter. Assetmark Inc.’s holdings in GSK were worth $809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GSK. Primecap Management Co. CA grew its stake in GSK by 13.9% in the 2nd quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after acquiring an additional 1,773,020 shares during the period. Provident Trust Co. boosted its position in GSK by 1.7% during the 3rd quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock worth $161,623,000 after purchasing an additional 66,765 shares during the period. Equity Investment Corp lifted its holdings in GSK by 1.0% in the 2nd quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock worth $132,178,000 after buying an additional 34,631 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in GSK by 30.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,347,993 shares of the pharmaceutical company’s stock worth $90,398,000 after buying an additional 554,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in GSK by 33.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock worth $86,875,000 after buying an additional 569,614 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

Shares of GSK stock opened at $33.35 on Friday. The company has a market cap of $69.11 billion, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. GSK plc has a 52 week low of $32.83 and a 52 week high of $45.92. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The firm has a 50 day moving average of $39.29 and a 200-day moving average of $40.75.

GSK Increases Dividend

The business 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 $0.3928 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.71%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio is 100.00%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Argus upgraded shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and dropped their price target for the stock from $53.00 to $39.50 in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, GSK currently has a consensus rating of “Moderate Buy” and an average target price of $43.25.

Insiders Place Their Bets

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by 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.