Rehmann Capital Advisory Group Buys 332 Shares of GSK plc (NYSE:GSK)

Rehmann Capital Advisory Group increased its stake in shares of GSK plc (NYSE:GSK) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,608 shares of the pharmaceutical company’s stock after purchasing an additional 332 shares during the period. Rehmann Capital Advisory Group’s holdings in GSK were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its stake in shares of GSK by 36.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 12,422 shares of the pharmaceutical company’s stock valued at $508,000 after purchasing an additional 3,346 shares during the period. Sunbelt Securities Inc. grew its position in GSK by 73.8% during the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after buying an additional 302 shares during the period. Continuum Advisory LLC increased its holdings in GSK by 4.8% during the third quarter. Continuum Advisory LLC now owns 10,599 shares of the pharmaceutical company’s stock valued at $433,000 after buying an additional 487 shares during the last quarter. LRI Investments LLC raised its position in GSK by 25.7% in the third quarter. LRI Investments LLC now owns 2,562 shares of the pharmaceutical company’s stock worth $105,000 after acquiring an additional 524 shares during the period. Finally, Drucker Wealth 3.0 LLC boosted its stake in shares of GSK by 1.8% during the 3rd quarter. Drucker Wealth 3.0 LLC now owns 83,666 shares of the pharmaceutical company’s stock worth $3,420,000 after acquiring an additional 1,482 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and lowered their target price for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. StockNews.com upgraded GSK from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays upgraded shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Seven investment analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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 company’s stock in a transaction 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 purchase, the insider now owns 16,775,691 shares in the company, valued at $134,205,528. This trade 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 this hyperlink. 10.00% of the stock is currently owned by company insiders.

GSK Price Performance

Shares of GSK stock opened at $33.95 on Friday. The company has a market cap of $70.35 billion, a P/E ratio of 22.04, a PEG ratio of 1.54 and a beta of 0.64. 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 stock’s 50-day moving average is $36.18 and its 200 day moving average is $39.28. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92.

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. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio is currently 99.35%.

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.