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

Horizon Kinetics Asset Management LLC raised its holdings in GSK plc (NYSE:GSK) by 51.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,192 shares of the pharmaceutical company’s stock after buying an additional 13,027 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in GSK were worth $1,561,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Eastern Bank acquired a new position in GSK during the third quarter worth $26,000. Concord Wealth Partners increased its stake in shares of GSK by 231.8% during the 3rd 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 last quarter. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK in the 2nd quarter valued at about $37,000. Fortitude Family Office LLC acquired a new stake in GSK in the 3rd quarter valued at about $42,000. Finally, PrairieView Partners LLC bought a new position in GSK during the second quarter worth about $47,000. 15.74% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was bought at an average cost 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 of the company’s stock, valued at $134,205,528. This represents a 19.97 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

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

GSK Stock Performance

NYSE GSK opened at $34.15 on Tuesday. The firm has a 50-day moving average price of $37.90 and a two-hundred day moving average price of $40.25. GSK plc has a 12-month low of $32.83 and a 12-month high of $45.92. The company has a market capitalization of $70.78 billion, a P/E ratio of 22.18, a P/E/G ratio of 1.30 and a beta of 0.66. 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 declared 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.60%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 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.