Bridgewater Associates LP Grows Position in GSK plc (NYSE:GSK)

Bridgewater Associates LP boosted its position in shares of GSK plc (NYSE:GSK) by 107.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 965,836 shares of the pharmaceutical company’s stock after purchasing an additional 500,010 shares during the period. Bridgewater Associates LP’s holdings in GSK were worth $39,483,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

GSK has been the topic of a number of research analyst reports. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Argus raised GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Seven equities research 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, GSK has a consensus rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Down 0.4 %

GSK stock opened at $34.02 on Wednesday. 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 firm has a market cap of $70.51 billion, a P/E ratio of 22.09, a P/E/G ratio of 1.31 and a beta of 0.66. The business has a fifty day moving average of $37.73 and a two-hundred day moving average of $40.17. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92.

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 paid a dividend of $0.3928 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, November 15th. GSK’s dividend payout ratio is 99.35%.

Insider Activity at GSK

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 10.00% of the stock is owned by corporate insiders.

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.