Van ECK Associates Corp Has $27.97 Million Stock Holdings in GSK plc (NYSE:GSK)

Van ECK Associates Corp lifted its holdings in shares of GSK plc (NYSE:GSK) by 8.4% in the third quarter, Holdings Channel.com reports. The fund owned 736,510 shares of the pharmaceutical company’s stock after purchasing an additional 56,843 shares during the quarter. Van ECK Associates Corp’s holdings in GSK were worth $27,973,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Eastern Bank bought a new position in GSK in the 3rd quarter worth approximately $26,000. Concord Wealth Partners raised its holdings in 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 period. Ashton Thomas Private Wealth LLC bought a new position in GSK during the second quarter worth about $37,000. Fortitude Family Office LLC acquired a new position in shares of GSK in the third quarter valued at approximately $42,000. Finally, PrairieView Partners LLC bought a new position in shares of GSK during the second quarter worth about $47,000. Institutional investors own 15.74% of the company’s stock.

Insider Activity

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the business’s stock in a transaction on Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

GSK has been the subject of several research analyst reports. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, GSK presently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

GSK Stock Performance

Shares of GSK stock opened at $36.97 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.54 and a current ratio of 0.81. The business has a 50-day simple moving average of $40.55 and a 200-day simple moving average of $41.03. The company has a market cap of $76.62 billion, a PE ratio of 24.01, a P/E/G ratio of 1.45 and a beta of 0.66. GSK plc has a one year low of $33.89 and a one year 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. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.25%. GSK’s dividend payout ratio is presently 100.00%.

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.