Prospera Private Wealth LLC Acquires New Stake in GSK plc (NYSE:GSK)

Prospera Private Wealth LLC purchased a new position in shares of GSK plc (NYSE:GSK) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,276 shares of the pharmaceutical company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GSK. Eastern Bank bought a new stake in GSK during the 3rd quarter worth about $26,000. Concord Wealth Partners lifted its position in GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $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. 15.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

GSK Stock Performance

Shares of NYSE:GSK opened at $33.36 on Thursday. The company’s 50 day moving average price is $38.46 and its two-hundred day moving average price is $40.49. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The firm has a market cap of $69.14 billion, a PE ratio of 21.66, a PEG 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 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 dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date is Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 99.35%.

Insiders Place Their Bets

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s 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 directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.00% of the company’s stock.

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.