Everett Harris & Co. CA Trims Stock Holdings in GSK plc (NYSE:GSK)

Everett Harris & Co. CA lowered its position in shares of GSK plc (NYSE:GSK) by 23.5% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 7,396 shares of the pharmaceutical company’s stock after selling 2,272 shares during the quarter. Everett Harris & Co. CA’s holdings in GSK were worth $317,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its holdings in GSK by 2.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 113,806 shares of the pharmaceutical company’s stock worth $4,125,000 after buying an additional 2,847 shares during the period. Ameriprise Financial Inc. increased its stake in shares of GSK by 3.6% in the third quarter. Ameriprise Financial Inc. now owns 1,270,782 shares of the pharmaceutical company’s stock worth $46,091,000 after acquiring an additional 43,753 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in shares of GSK during the third quarter worth $45,114,000. Evergreen Capital Management LLC lifted its position in GSK by 4.4% during the third quarter. Evergreen Capital Management LLC now owns 10,795 shares of the pharmaceutical company’s stock valued at $395,000 after purchasing an additional 451 shares during the period. Finally, Shepherd Kaplan Krochuk LLC purchased a new stake in GSK in the third quarter valued at $1,228,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Up 1.2 %

Shares of GSK opened at $38.91 on Friday. The firm has a market cap of $80.64 billion, a P/E ratio of 13.93, a PEG ratio of 1.16 and a beta of 0.64. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The stock’s 50 day moving average is $42.31 and its two-hundred day moving average is $41.22. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.15.

GSK (NYSE:GSK) last issued its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. The company had revenue of $9.34 billion during the quarter, compared to analyst estimates of $8.98 billion. GSK had a net margin of 14.62% and a return on equity of 51.54%. Analysts predict that GSK plc will post 4.1 earnings per share for the current fiscal year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, May 17th will be paid a $0.3762 dividend. The ex-dividend date is Thursday, May 16th. This is a positive change from GSK’s previous quarterly dividend of $0.36. This represents a $1.50 dividend on an annualized basis and a yield of 3.87%. GSK’s dividend payout ratio (DPR) is currently 53.26%.

Analyst Upgrades and Downgrades

GSK has been the subject of several analyst reports. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Jefferies Financial Group upped their price objective on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. Finally, The Goldman Sachs Group initiated coverage on shares of GSK in a report on Thursday, May 30th. They set a “neutral” rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, GSK currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

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.