Pathstone Holdings LLC Boosts Stock Holdings in GSK plc (NYSE:GSK)

Pathstone Holdings LLC raised its holdings in shares of GSK plc (NYSE:GSK) by 12.1% during the third quarter, HoldingsChannel reports. The firm owned 246,614 shares of the pharmaceutical company’s stock after purchasing an additional 26,707 shares during the period. Pathstone Holdings LLC’s holdings in GSK were worth $10,086,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in GSK. Eastern Bank purchased a new position in GSK during the 3rd quarter valued at about $26,000. Concord Wealth Partners boosted 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 valued at $32,000 after buying an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK in the 2nd quarter valued at about $37,000. Fortitude Family Office LLC bought a new stake in shares of GSK in the 3rd quarter valued at about $42,000. Finally, PrairieView Partners LLC bought a new stake in shares of GSK in the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Down 0.3 %

GSK stock opened at $33.36 on Thursday. The firm has a 50 day moving average of $38.46 and a 200 day moving average of $40.49. The stock has a market capitalization of $69.14 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.28 and a beta of 0.66. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. GSK plc has a 52 week low of $32.83 and a 52 week high of $45.92.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a 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 payout ratio is presently 99.35%.

Insider Buying and Selling at GSK

In other GSK news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. The trade was a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GSK shares. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Guggenheim cut shares of 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 report on Wednesday, August 7th. Finally, Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Seven equities research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $43.25.

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.