Quantbot Technologies LP Purchases 184,204 Shares of GSK plc (NYSE:GSK)

Quantbot Technologies LP increased its position in shares of GSK plc (NYSE:GSK) by 692.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 210,810 shares of the pharmaceutical company’s stock after buying an additional 184,204 shares during the period. Quantbot Technologies LP’s holdings in GSK were worth $8,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Eastern Bank acquired a new position in GSK in the third quarter valued at approximately $26,000. Concord Wealth Partners lifted its stake in shares of GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in GSK during the 2nd quarter valued at about $37,000. Fortitude Family Office LLC purchased a new position in shares of GSK during the third quarter valued at approximately $42,000. Finally, PrairieView Partners LLC bought a new stake in shares of GSK in the 2nd quarter worth $47,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average cost 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.00% of the stock is currently owned by company insiders.

GSK Stock Performance

NYSE:GSK opened at $34.15 on Tuesday. 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 business has a fifty day simple moving average of $37.90 and a two-hundred day simple moving average of $40.25. The company has a market capitalization of $70.78 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.30 and a beta of 0.66.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be issued a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.60%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) 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.