Range Financial Group LLC Buys Shares of 8,483 GSK plc (NYSE:GSK)

Range Financial Group LLC purchased a new position in shares of GSK plc (NYSE:GSK) in the fourth quarter, Holdings Channel.com reports. The fund purchased 8,483 shares of the pharmaceutical company’s stock, valued at approximately $287,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Eastern Bank acquired a new position in GSK during the third quarter worth about $26,000. Sunbelt Securities Inc. boosted its position in GSK by 73.8% in the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after buying an additional 302 shares in the last quarter. Concord Wealth Partners grew its stake in shares of GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of GSK during the second quarter worth $37,000. Finally, Fortitude Family Office LLC bought a new position in shares of GSK in the 3rd quarter valued at $42,000. 15.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and dropped their price objective for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. StockNews.com lowered shares of GSK from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, one has assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, GSK presently has an average rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Performance

Shares of GSK stock opened at $34.11 on Wednesday. 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 one year low of $32.83 and a one year high of $45.92. The business’s 50 day simple moving average is $34.59 and its 200 day simple moving average is $38.30. The stock has a market capitalization of $70.69 billion, a PE ratio of 22.15, a PEG ratio of 1.52 and a beta of 0.63.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.61%. GSK’s dividend payout ratio is 98.70%.

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.