Healthcare of Ontario Pension Plan Trust Fund Makes New $1.48 Million Investment in GSK plc (NYSE:GSK)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of GSK plc (NYSE:GSKGet Rating) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,100 shares of the pharmaceutical company’s stock, valued at approximately $1,484,000.

A number of other hedge funds have also recently made changes to their positions in GSK. Koss Olinger Consulting LLC boosted its holdings in GSK by 3.4% during the first quarter. Koss Olinger Consulting LLC now owns 7,299 shares of the pharmaceutical company’s stock worth $318,000 after purchasing an additional 242 shares during the last quarter. Steel Peak Wealth Management LLC raised its position in GSK by 4.6% in the first quarter. Steel Peak Wealth Management LLC now owns 5,543 shares of the pharmaceutical company’s stock worth $241,000 after acquiring an additional 246 shares during the period. EverSource Wealth Advisors LLC raised its position in GSK by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,593 shares of the pharmaceutical company’s stock worth $113,000 after acquiring an additional 253 shares during the period. Ipswich Investment Management Co. Inc. raised its position in GSK by 2.7% in the second quarter. Ipswich Investment Management Co. Inc. now owns 10,440 shares of the pharmaceutical company’s stock worth $454,000 after acquiring an additional 275 shares during the period. Finally, Equitable Trust Co. raised its position in GSK by 1.5% in the first quarter. Equitable Trust Co. now owns 20,207 shares of the pharmaceutical company’s stock worth $881,000 after acquiring an additional 291 shares during the period. 16.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on GSK shares. Morgan Stanley lifted their price objective on shares of GSK from GBX 1,550 ($18.33) to GBX 1,650 ($19.51) in a research report on Wednesday, October 12th. Barclays lowered their price target on shares of GSK from GBX 1,800 ($21.28) to GBX 1,450 ($17.15) in a report on Friday, October 14th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of GSK from GBX 1,750 ($20.69) to GBX 1,500 ($17.74) in a report on Wednesday, September 7th. StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Friday, November 11th. Finally, Credit Suisse Group upgraded shares of GSK from an “underperform” rating to a “neutral” rating in a report on Thursday, September 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $1,608.33.

GSK Trading Down 0.5 %

GSK stock opened at $33.69 on Friday. The firm’s 50 day moving average price is $31.45 and its 200-day moving average price is $37.07. GSK plc has a 1 year low of $28.47 and a 1 year high of $46.97. The company has a debt-to-equity ratio of 2.22, a current ratio of 0.97 and a quick ratio of 0.74. The stock has a market cap of $68.51 billion, a P/E ratio of 4.13, a PEG ratio of 1.20 and a beta of 0.67.

GSK Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Shareholders of record on Friday, November 18th will be issued a $0.3695 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $1.48 dividend on an annualized basis and a yield of 4.39%. GSK’s dividend payout ratio is presently 15.20%.

About GSK

(Get Rating)

GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

See Also

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GSK plc (NYSE:GSKGet Rating).

Institutional Ownership by Quarter for GSK (NYSE:GSK)

Receive News & Ratings for GSK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GSK and related companies with MarketBeat.com's FREE daily email newsletter.