Connor Clark & Lunn Investment Management Ltd. Acquires 456,319 Shares of GSK plc (NYSE:GSK)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of GSK plc (NYSE:GSK) by 420.1% during the third quarter, HoldingsChannel reports. The firm owned 564,934 shares of the pharmaceutical company’s stock after purchasing an additional 456,319 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in GSK were worth $23,095,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of GSK. Eastern Bank bought a new position in GSK in the third quarter worth approximately $26,000. Concord Wealth Partners increased 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 acquiring an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in shares of GSK in the 2nd quarter worth $37,000. Fortitude Family Office LLC purchased a new stake in shares of GSK during the 3rd quarter worth $42,000. Finally, PrairieView Partners LLC purchased a new stake in shares of GSK during the 2nd quarter worth $47,000. Institutional investors own 15.74% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction on Friday, September 27th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.00% of the stock is owned by corporate insiders.

GSK Price Performance

Shares of NYSE:GSK opened at $33.36 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. The company’s 50 day moving average is $38.46 and its 200 day moving average is $40.49. The company has a market cap 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.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be given a dividend of $0.3928 per share. The ex-dividend date is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a yield of 4.71%. GSK’s payout ratio is currently 99.35%.

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.