Hotchkis & Wiley Capital Management LLC Purchases 833,080 Shares of GSK plc (NYSE:GSK)

Hotchkis & Wiley Capital Management LLC raised its holdings in GSK plc (NYSE:GSK) by 30.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,542,143 shares of the pharmaceutical company’s stock after purchasing an additional 833,080 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.17% of GSK worth $144,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Eastern Bank purchased a new stake in shares of GSK in the 3rd quarter valued at approximately $26,000. Concord Wealth Partners increased its stake 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 purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of GSK during the 2nd quarter worth approximately $37,000. Fortitude Family Office LLC bought a new stake in shares of GSK during the third quarter worth approximately $42,000. Finally, PrairieView Partners LLC acquired a new position in GSK during the second quarter valued at approximately $47,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at GSK

In other GSK news, major shareholder Plc Gsk bought 2,791,930 shares of GSK stock in a transaction that occurred 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 transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. This represents a 19.97 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 10.00% of the company’s stock.

GSK Price Performance

NYSE:GSK opened at $34.31 on Tuesday. The stock’s 50-day simple moving average is $37.29 and its 200 day simple moving average is $39.93. The company has a market cap of $71.11 billion, a P/E ratio of 22.28, a P/E/G ratio of 1.31 and a beta of 0.64. GSK plc has a 52-week low of $32.83 and a 52-week high of $45.92. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81.

GSK Increases Dividend

The company 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 dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a yield of 4.58%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, November 15th. GSK’s payout ratio is presently 99.35%.

Analyst Ratings Changes

A number of research firms have issued reports on GSK. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut shares of 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 report on Tuesday, November 12th. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lowered 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 report on Tuesday, August 27th. Seven research analysts have rated the stock with a hold rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.25.

About GSK

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.