GSK plc (NYSE:GSK) Shares Bought by Cerity Partners LLC

26 Nov 2024, 10:01 by Sarita Garza · The Markets Daily

Cerity Partners LLC lifted its holdings in shares of GSK plc (NYSE:GSK – Free Report) by 61.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 433,628 shares of the pharmaceutical company’s stock after buying an additional 165,556 shares during the period. Cerity Partners LLC’s holdings in GSK were worth $17,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Eastern Bank acquired a new position in GSK during the 3rd quarter worth $26,000. Concord Wealth Partners lifted its holdings in GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new position in GSK in the 2nd quarter valued at about $37,000. Fortitude Family Office LLC bought a new position in GSK in the 3rd quarter valued at about $42,000. Finally, PrairieView Partners LLC acquired a new position in GSK during the 2nd quarter valued at about $47,000. 15.74% of the stock is owned by institutional investors.

GSK Price Performance

Shares of NYSE:GSK opened at $34.15 on Tuesday. The company has a market capitalization of $70.78 billion, a PE ratio of 22.18, a price-to-earnings-growth ratio of 1.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The stock has a fifty day moving average of $37.90 and a 200-day moving average of $40.25. GSK plc has a one year low of $32.83 and a one year high of $45.92.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.60%. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s dividend payout ratio is currently 99.35%.

Insider Activity at GSK

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK stock in a transaction that occurred 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 transaction, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 10.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GSK shares. Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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 cut their price objective for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Finally, Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, GSK presently has an average rating of “Moderate Buy” and an average target price of $43.25.

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