25,747 GSK PLC Sponsored ADR $GSK Shares Acquired by Summit Global Investments

Key Points

• Summit Global Investments more than doubled its GSK position in the third quarter, acquiring 25,747 additional shares for a total holding of 46,599 shares valued at approximately $2.25 million.
• Analysts remain broadly cautious, with a consensus “Hold” rating and an average price target of $56.30; ratings include three Buys, thirteen Holds, and three Sells.
• GSK raised its quarterly dividend slightly to $0.4518 per share, equivalent to an annualized dividend of $1.81 and a 3.7% yield.

Summit Global Investments grew its position in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 123.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,599 shares of the pharmaceutical company's stock after purchasing an additional 25,747 shares during the period. Summit Global Investments' holdings in GSK were worth $2,245,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mondrian Investment Partners LTD boosted its stake in GSK by 1.1% during the third quarter. Mondrian Investment Partners LTD now owns 4,965,946 shares of the pharmaceutical company's stock valued at $239,210,000 after buying an additional 55,116 shares during the last quarter. NewEdge Advisors LLC increased its stake in GSK by 842.9% in the 2nd quarter. NewEdge Advisors LLC now owns 953,574 shares of the pharmaceutical company's stock worth $49,986,000 after acquiring an additional 852,437 shares during the last quarter. Foster Victor Wealth Advisors LLC increased its stake in GSK by 5.8% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 438,220 shares of the pharmaceutical company's stock worth $21,674,000 after acquiring an additional 23,934 shares during the last quarter. Sound Income Strategies LLC raised its holdings in shares of GSK by 2.7% during the 3rd quarter. Sound Income Strategies LLC now owns 348,273 shares of the pharmaceutical company's stock worth $16,209,000 after acquiring an additional 9,218 shares in the last quarter. Finally, Waverly Advisors LLC raised its holdings in shares of GSK by 1,372.8% during the 2nd quarter. Waverly Advisors LLC now owns 290,593 shares of the pharmaceutical company's stock worth $15,233,000 after acquiring an additional 270,863 shares in the last quarter. 15.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GSK shares. HSBC reiterated a "hold" rating on shares of GSK in a research report on Thursday, September 10th. Berenberg Bank restated a "buy" rating on shares of GSK in a research report on Tuesday, October 6th. Wolfe Research assumed coverage on shares of GSK in a research note on Friday, October 9th. They set an "outperform" rating and a $70.00 price target on the stock. Barclays reiterated a "sell" rating on shares of GSK in a research report on Monday, September 7th. Finally, Royal Bank Of Canada began coverage on shares of GSK in a research note on Tuesday, September 8th. They issued a "sector perform" rating for the company. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $56.30.

GSK Stock Performance

NYSE GSK opened at $49.48 on Friday. The business's 50 day moving average price is $49.44 and its 200-day moving average price is $52.34. GSK PLC Sponsored ADR has a fifty-two week low of $45.81 and a fifty-two week high of $61.69. The company has a market cap of $100.08 billion, a P/E ratio of 17.19, a P/E/G ratio of 2.18 and a beta of 0.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.52 and a current ratio of 0.86.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Friday, November 13th will be given a dividend of $0.4518 per share. This represents a $1.81 dividend on an annualized basis and a yield of 3.7%. This is a positive change from GSK's previous quarterly dividend of $0.4515. The ex-dividend date is Friday, November 13th. GSK's dividend payout ratio (DPR) is presently 61.46%.

GSK Company Profile

GSK plc, formerly GlaxoSmithKline, is a global biopharmaceutical company headquartered in Brentford, England. The company focuses on researching, developing and commercializing medicines and vaccines designed to prevent and treat infectious diseases, respiratory conditions, immune-related disorders and certain cancers.

Its vaccine portfolio includes products such as Shingrix for shingles, Arexvy for respiratory syncytial virus (RSV) in older adults, and vaccines targeting meningitis, influenza and other infectious diseases.

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