Public Employees Retirement System of Ohio Makes New Investment in GSK plc (NYSE:GSK)

Public Employees Retirement System of Ohio acquired a new stake in GSK plc (NYSE:GSK) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 89,164 shares of the pharmaceutical company’s stock, valued at approximately $3,645,000.

A number of other hedge funds have also modified their holdings of the stock. Eastern Bank bought a new stake in GSK in the third quarter valued at $26,000. Concord Wealth Partners grew its holdings in shares of GSK by 231.8% in the 3rd 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 acquired a new stake in shares of GSK during the 2nd quarter worth about $37,000. Fortitude Family Office LLC acquired a new stake in shares of GSK during the 3rd quarter worth about $42,000. Finally, PrairieView Partners LLC bought a new position in GSK during the 2nd quarter valued at about $47,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Plc Gsk purchased 2,791,930 shares of GSK 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 transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This trade represents a 19.97 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 10.00% of the company’s stock.

GSK Trading Down 0.6 %

GSK stock opened at $33.95 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. The company has a market cap of $70.36 billion, a P/E ratio of 22.05, a PEG ratio of 1.54 and a beta of 0.64. The business has a fifty day moving average of $36.18 and a 200-day moving average of $39.21.

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 given a dividend of $0.3928 per share. The ex-dividend date is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a yield of 4.63%. GSK’s dividend payout ratio is presently 99.35%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GSK. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a report on Thursday. Barclays raised GSK to a “hold” rating in a research note on Tuesday, August 27th. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Seven analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.