Charles Schwab Investment Management Inc. Has $4.97 Million Holdings in GSK plc (NYSE:GSK)

Charles Schwab Investment Management Inc. lifted its stake in GSK plc (NYSE:GSK) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,603 shares of the pharmaceutical company’s stock after buying an additional 14,687 shares during the period. Charles Schwab Investment Management Inc.’s holdings in GSK were worth $4,971,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Eastern Bank bought a new stake in GSK during the 3rd quarter worth approximately $26,000. Concord Wealth Partners grew its position in 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 acquiring an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in GSK in the 2nd quarter valued at $37,000. Fortitude Family Office LLC bought a new position in GSK in the 3rd quarter valued at $42,000. Finally, PrairieView Partners LLC bought a new position in GSK in the 2nd quarter valued at $47,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.00% of the company’s stock.

GSK Stock Performance

GSK opened at $33.95 on Friday. The business’s 50-day moving average price is $36.18 and its two-hundred day moving average price is $39.28. GSK plc has a 1 year low of $32.83 and a 1 year high of $45.92. The company has a market capitalization of $70.35 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 1.54 and a beta of 0.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.81 and a quick ratio of 0.53.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a $0.3928 dividend. This is an increase 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 dividend yield of 4.63%. GSK’s dividend payout ratio (DPR) is currently 99.35%.

Analysts Set New Price Targets

A number of brokerages have commented on GSK. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. StockNews.com upgraded GSK from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and reduced their price target for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Seven analysts have rated the stock with a hold rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK 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.