Cambridge Investment Research Advisors Inc. Has $5.66 Million Holdings in GSK plc (NYSE:GSK)

Cambridge Investment Research Advisors Inc. cut its stake in shares of GSK plc (NYSE:GSK) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,088 shares of the pharmaceutical company’s stock after selling 2,081 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in GSK were worth $5,663,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GSK. Register Financial Advisors LLC acquired a new position in GSK in the first quarter valued at about $31,000. Richardson Financial Services Inc. acquired a new position in GSK in the fourth quarter valued at about $40,000. Newbridge Financial Services Group Inc. acquired a new position in GSK in the first quarter valued at about $49,000. Triad Wealth Partners LLC acquired a new position in GSK in the second quarter valued at about $49,000. Finally, Jones Financial Companies Lllp grew its stake in GSK by 23.1% in the fourth quarter. Jones Financial Companies Lllp now owns 1,633 shares of the pharmaceutical company’s stock valued at $61,000 after acquiring an additional 306 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on GSK shares. The Goldman Sachs Group started coverage on GSK in a research note on Thursday, May 30th. They issued a “neutral” rating and a $47.00 target price for the company. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Jefferies Financial Group boosted their price target on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $50.00.

GSK Stock Performance

GSK opened at $43.90 on Thursday. GSK plc has a 52-week low of $33.67 and a 52-week high of $45.92. The firm has a market capitalization of $90.98 billion, a PE ratio of 15.91, a PEG ratio of 1.32 and a beta of 0.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.82. The business’s 50-day simple moving average is $39.92 and its 200 day simple moving average is $41.53.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be issued a dividend of $0.3843 per share. This represents a $1.54 annualized dividend and a yield of 3.50%. The ex-dividend date is Friday, August 16th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 54.71%.

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.