GSK plc (NYSE:GSK) Shares Purchased by Rehmann Capital Advisory Group

Rehmann Capital Advisory Group raised its position in GSK plc (NYSE:GSK) by 6.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,608 shares of the pharmaceutical company’s stock after acquiring an additional 332 shares during the quarter. Rehmann Capital Advisory Group’s holdings in GSK were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of GSK by 5.7% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 166,255 shares of the pharmaceutical company’s stock valued at $6,401,000 after purchasing an additional 8,989 shares during the last quarter. ORG Partners LLC increased its stake in shares of GSK by 663.5% in the 2nd quarter. ORG Partners LLC now owns 1,611 shares of the pharmaceutical company’s stock worth $62,000 after acquiring an additional 1,400 shares during the last quarter. Triad Wealth Partners LLC purchased a new position in shares of GSK during the 2nd quarter worth $49,000. Blue Trust Inc. boosted its position in shares of GSK by 168.4% during the 2nd quarter. Blue Trust Inc. now owns 2,464 shares of the pharmaceutical company’s stock valued at $95,000 after acquiring an additional 1,546 shares during the last quarter. Finally, Chapin Davis Inc. increased its position in GSK by 2.5% during the second quarter. Chapin Davis Inc. now owns 14,591 shares of the pharmaceutical company’s stock worth $562,000 after purchasing an additional 360 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and cut their target price for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Down 0.7 %

Shares of NYSE:GSK opened at $33.95 on Friday. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. The stock has a market cap of $70.35 billion, a P/E ratio of 22.04, a P/E/G ratio of 1.54 and a beta of 0.64. The firm has a fifty day moving average price of $36.18 and a 200 day moving average price of $39.28.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. This represents a $1.57 annualized dividend and a dividend yield of 4.63%. GSK’s dividend payout ratio is 99.35%.

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.