Quantbot Technologies LP Acquires 184,204 Shares of GSK plc (NYSE:GSK)

Quantbot Technologies LP lifted its holdings in shares of GSK plc (NYSE:GSK) by 692.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,810 shares of the pharmaceutical company’s stock after purchasing an additional 184,204 shares during the quarter. Quantbot Technologies LP’s holdings in GSK were worth $8,618,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Eastern Bank bought a new stake in shares of GSK during the 3rd quarter valued at $26,000. Concord Wealth Partners lifted its position 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 purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC acquired a new stake in GSK during the second quarter worth 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 shares of GSK in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

Insider Buying and Selling at GSK

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

Wall Street Analysts Forecast Growth

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

GSK Stock Performance

Shares of GSK stock opened at $34.15 on Tuesday. The business’s 50-day moving average price is $37.90 and its 200-day moving average price is $40.25. GSK plc has a 12 month low of $32.83 and a 12 month high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $70.78 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.30 and a beta of 0.66.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s payout ratio is presently 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.