Advisors Asset Management Inc. Acquires 14,565 Shares of GSK plc (NYSE:GSK)

Advisors Asset Management Inc. grew its holdings in shares of GSK plc (NYSE:GSK) by 11.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,348 shares of the pharmaceutical company’s stock after purchasing an additional 14,565 shares during the quarter. Advisors Asset Management Inc.’s holdings in GSK were worth $5,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GSK. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in GSK by 420.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 564,934 shares of the pharmaceutical company’s stock worth $23,095,000 after purchasing an additional 456,319 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of GSK in the third quarter worth $216,000. West Family Investments Inc. bought a new stake in shares of GSK during the 3rd quarter worth $236,000. Pathstone Holdings LLC grew its stake in GSK by 12.1% in the 3rd quarter. Pathstone Holdings LLC now owns 246,614 shares of the pharmaceutical company’s stock valued at $10,086,000 after buying an additional 26,707 shares during the last quarter. Finally, Equity Investment Corp increased its stake in shares of GSK by 1.8% in the third quarter. Equity Investment Corp now owns 3,496,254 shares of the pharmaceutical company’s stock worth $142,927,000 after purchasing an additional 63,052 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Trading Up 1.0 %

GSK stock opened at $33.67 on Friday. The business has a fifty day moving average price of $38.27 and a 200 day moving average price of $40.44. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The stock has a market capitalization of $69.79 billion, a price-to-earnings ratio of 21.87, a P/E/G ratio of 1.29 and a beta of 0.66.

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 given 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 yield of 4.67%. GSK’s dividend payout ratio is 99.35%.

Analyst Ratings Changes

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

Insider Buying and Selling at GSK

In other 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 shares were acquired at an average price of $8.00 per share, for a total transaction 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 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.00% of the company’s stock.

About GSK

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.