Townsquare Capital LLC Raises Stock Position in GSK plc (NYSE:GSK)

Townsquare Capital LLC boosted its stake in shares of GSK plc (NYSE:GSK) by 7.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 98,367 shares of the pharmaceutical company’s stock after acquiring an additional 7,151 shares during the period. Townsquare Capital LLC’s holdings in GSK were worth $4,021,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tidal Investments LLC boosted its holdings in GSK by 6.7% in the 1st quarter. Tidal Investments LLC now owns 27,335 shares of the pharmaceutical company’s stock worth $1,172,000 after buying an additional 1,715 shares during the last quarter. Atria Investments Inc lifted its position in shares of GSK by 27.5% in the first quarter. Atria Investments Inc now owns 54,657 shares of the pharmaceutical company’s stock valued at $2,343,000 after acquiring an additional 11,804 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of GSK by 300.5% in the first quarter. Cetera Investment Advisers now owns 281,168 shares of the pharmaceutical company’s stock worth $12,054,000 after acquiring an additional 210,971 shares during the last quarter. Cetera Advisors LLC increased its position in shares of GSK by 114.6% during the first quarter. Cetera Advisors LLC now owns 62,998 shares of the pharmaceutical company’s stock worth $2,701,000 after purchasing an additional 33,642 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in GSK by 20.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,239 shares of the pharmaceutical company’s stock valued at $134,000 after purchasing an additional 558 shares during the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GSK shares. Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Seven investment analysts have rated the stock with a hold rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Down 0.6 %

GSK stock opened at $34.13 on Friday. GSK plc has a one year low of $32.83 and a one year high of $45.92. The firm has a market cap of $70.74 billion, a PE ratio of 22.16, a PEG ratio of 1.31 and a beta of 0.66. The firm’s 50 day moving average price is $37.29 and its 200-day moving average price is $40.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.60%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 99.35%.

Insider Activity

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost 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 approximately $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.00% of the company’s stock.

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.