Oppenheimer Asset Management Inc. Purchases 6,468 Shares of GSK plc (NYSE:GSK)

Oppenheimer Asset Management Inc. raised its stake in GSK plc (NYSE:GSK) by 6.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 112,395 shares of the pharmaceutical company’s stock after purchasing an additional 6,468 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GSK were worth $4,595,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GSK. Eastern Bank bought a new stake in GSK in the third quarter valued at $26,000. Concord Wealth Partners increased its stake in GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in GSK in the second quarter valued at $37,000. Fortitude Family Office LLC bought a new stake in GSK in the third quarter valued at $42,000. Finally, PrairieView Partners LLC bought a new stake in GSK in the second quarter valued at $47,000. 15.74% of the stock is owned by institutional investors.

GSK Price Performance

Shares of NYSE GSK opened at $33.35 on Friday. The company has a market capitalization of $69.11 billion, a PE ratio of 21.65, a PEG ratio of 1.35 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. The stock’s 50 day moving average price is $39.29 and its 200-day moving average price is $40.75. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be given a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.71%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 100.00%.

Analyst Ratings Changes

Several equities research analysts have weighed in on GSK shares. Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday. Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Argus raised shares of GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and decreased their target price for the stock from $53.00 to $39.50 in a research report on Tuesday. 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 three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the company’s stock in a transaction on Friday, September 27th. The shares were purchased at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the purchase, the insider now directly owns 16,775,691 shares in the company, valued at $134,205,528. The trade was a 19.97 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 10.00% of the company’s stock.

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.