GSK PLC Sponsored ADR $GSK Stock: Equity Investment Corp Grows Holdings

Equity Investment Corp grew its position in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,560,824 shares of the pharmaceutical company’s stock after purchasing an additional 291,059 shares during the quarter. GSK makes up about 2.4% of Equity Investment Corp’s holdings, making the stock its 6th largest position. Equity Investment Corp owned 0.18% of GSK worth $171,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of GSK in the 3rd quarter valued at about $36,000. Security National Bank of SO Dak purchased a new position in GSK during the 2nd quarter worth approximately $38,000. Trust Co. of Vermont purchased a new position in GSK during the 2nd quarter worth approximately $54,000. Provenance Wealth Advisors LLC increased its position in GSK by 378.8% during the third quarter. Provenance Wealth Advisors LLC now owns 1,149 shares of the pharmaceutical company’s stock worth $55,000 after buying an additional 909 shares during the period. Finally, Philadelphia Investment Partners LLC acquired a new position in GSK during the second quarter worth approximately $70,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK opened at $51.27 on Wednesday. GSK PLC Sponsored ADR has a fifty-two week low of $45.81 and a fifty-two week high of $61.69. The company has a market capitalization of $103.70 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 2.32 and a beta of 0.29. The firm has a 50-day simple moving average of $49.30 and a 200-day simple moving average of $52.39. The company has a debt-to-equity ratio of 1.18, a quick ratio of 0.56 and a current ratio of 0.86.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Friday, November 13th will be given a $0.4518 dividend. This is a boost from GSK’s previous quarterly dividend of $0.4515. The ex-dividend date is Friday, November 13th. This represents a $1.81 annualized dividend and a yield of 3.5%. GSK’s payout ratio is presently 61.46%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GSK. Royal Bank Of Canada started coverage on GSK in a research note on Tuesday, September 8th. They issued a “sector perform” rating for the company. Berenberg Bank restated a “buy” rating on shares of GSK in a research report on Tuesday, October 6th. JPMorgan Chase & Co. restated a “sell” rating on shares of GSK in a research report on Thursday, October 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of GSK in a report on Tuesday, October 27th. Finally, Wolfe Research assumed coverage on shares of GSK in a research report on Friday, October 9th. They issued an “outperform” rating and a $70.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.30.

About GSK

GSK plc is a global biopharmaceutical company headquartered in the United Kingdom. It researches, develops and manufactures medicines and vaccines, with a focus on areas including infectious diseases, HIV, respiratory and immune conditions, and cancer. Its products include vaccines such as Shingrix, which helps prevent shingles, and Arexvy, for respiratory syncytial virus (RSV). GSK also makes specialty medicines, including treatments for HIV and respiratory diseases, and continues to develop new medicines and vaccines through its research programs.