GSK plc (NYSE:GSK) Shares Purchased by Fred Alger Management LLC

Fred Alger Management LLC boosted its position in shares of GSK plc (NYSE:GSK) by 9.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 44,801 shares of the pharmaceutical company’s stock after acquiring an additional 3,733 shares during the quarter. Fred Alger Management LLC’s holdings in GSK were worth $1,831,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of GSK by 8.3% during the third quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock worth $1,185,885,000 after purchasing an additional 2,224,345 shares during the last quarter. Fisher Asset Management LLC grew its position in GSK by 4.9% during the 3rd quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock worth $759,425,000 after purchasing an additional 870,449 shares during the period. Clifford Capital Partners LLC raised its stake in shares of GSK by 14.3% during the 3rd quarter. Clifford Capital Partners LLC now owns 409,669 shares of the pharmaceutical company’s stock valued at $16,747,000 after buying an additional 51,378 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of GSK by 61.8% in the 3rd quarter. Cerity Partners LLC now owns 433,628 shares of the pharmaceutical company’s stock valued at $17,728,000 after buying an additional 165,556 shares during the period. Finally, Natixis Advisors LLC increased its holdings in shares of GSK by 20.0% during the 3rd quarter. Natixis Advisors LLC now owns 500,495 shares of the pharmaceutical company’s stock valued at $20,460,000 after purchasing an additional 83,433 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

GSK has been the topic of several analyst reports. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. 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 three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Performance

NYSE GSK opened at $34.13 on Monday. 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 plc has a 1-year low of $32.83 and a 1-year high of $45.92. The company has a market cap of $70.74 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. The stock’s 50 day simple moving average is $37.29 and its 200-day simple moving average is $39.93.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a yield of 4.60%. The ex-dividend date is Friday, November 15th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 99.35%.

Insider Transactions at GSK

In related news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the acquisition, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.

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.