Horizon Kinetics Asset Management LLC Has $1.56 Million Stock Holdings in GSK plc (NYSE:GSK)

Horizon Kinetics Asset Management LLC grew its position in GSK plc (NYSE:GSK) by 51.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 38,192 shares of the pharmaceutical company’s stock after acquiring an additional 13,027 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in GSK were worth $1,561,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the company. Eastern Bank bought a new position in shares of GSK during the third quarter worth about $26,000. Concord Wealth Partners raised its stake in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in GSK in the second quarter valued at $37,000. Fortitude Family Office LLC bought a new stake in GSK during the third quarter valued at $42,000. Finally, PrairieView Partners LLC acquired a new stake in GSK during the 2nd quarter worth about $47,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The stock was bought at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the acquisition, 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 position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 10.00% of the company’s stock.

Analyst Ratings Changes

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

GSK Stock Performance

GSK stock opened at $34.15 on Tuesday. The business has a 50 day moving average of $37.90 and a 200-day moving average of $40.25. The firm has a market cap of $70.78 billion, a PE ratio of 22.18, a P/E/G ratio of 1.30 and a beta of 0.66. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The business 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 dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Friday, November 15th. This is an increase 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.