Valley Wealth Managers Inc. Buys Shares of 1,508 GSK plc (NYSE:GSK)

Valley Wealth Managers Inc. purchased a new position in shares of GSK plc (NYSE:GSK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,508 shares of the pharmaceutical company’s stock, valued at approximately $62,000.

Several other hedge funds have also recently bought and sold shares of GSK. 1832 Asset Management L.P. increased its position in GSK by 9.1% in the 1st quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock valued at $132,000 after acquiring an additional 257 shares during the period. Boltwood Capital Management raised its position in shares of GSK by 2.5% during the 2nd quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock worth $429,000 after buying an additional 270 shares in the last quarter. First Affirmative Financial Network boosted its holdings in shares of GSK by 4.7% in the second quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after acquiring an additional 283 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in GSK by 9.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 303 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its stake in GSK by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock valued at $682,000 after purchasing an additional 323 shares in the last quarter. 15.74% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 acquired 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 in the company, valued at $134,205,528. This represents a 19.97 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

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

GSK Stock Down 1.9 %

NYSE:GSK opened at $33.35 on Friday. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92. The firm has a market capitalization of $69.11 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 1.35 and a beta of 0.66. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The business’s fifty day moving average price is $39.08 and its 200 day moving average price is $40.69.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio (DPR) is currently 100.00%.

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.