Atom Investors LP Takes $296,000 Position in GSK plc (NYSE:GSK)

Atom Investors LP bought a new stake in shares of GSK plc (NYSE:GSK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,240 shares of the pharmaceutical company’s stock, valued at approximately $296,000.

A number of other institutional investors have also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of GSK by 9.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock valued at $137,000 after acquiring an additional 303 shares during the period. Mesirow Financial Investment Management Inc. lifted its position in shares of GSK by 2.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock valued at $682,000 after acquiring an additional 323 shares during the period. International Assets Investment Management LLC lifted its position in shares of GSK by 6.3% during the 2nd quarter. International Assets Investment Management LLC now owns 5,535 shares of the pharmaceutical company’s stock valued at $213,000 after acquiring an additional 327 shares during the period. Investment Partners Asset Management Inc. lifted its position in shares of GSK by 2.3% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 15,559 shares of the pharmaceutical company’s stock valued at $636,000 after acquiring an additional 344 shares during the period. Finally, Chapin Davis Inc. lifted its position in shares of GSK by 2.5% during the 2nd quarter. Chapin Davis Inc. now owns 14,591 shares of the pharmaceutical company’s stock worth $562,000 after buying an additional 360 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors.

Insider Activity

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of the firm’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 completion of the purchase, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

GSK Trading Down 1.4 %

Shares of GSK stock opened at $34.41 on Thursday. The stock has a market cap of $71.32 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 1.31 and a beta of 0.64. The stock has a 50-day moving average of $36.91 and a 200-day moving average of $39.75. 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 1-year low of $32.83 and a 1-year high of $45.92.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a $0.3928 dividend. This is a boost 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 4.57%. GSK’s dividend payout ratio is presently 98.70%.

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.