Ritholtz Wealth Management Cuts Position in GSK plc (NYSE:GSK)

Ritholtz Wealth Management lessened its position in shares of GSK plc (NYSE:GSK) by 1.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 76,397 shares of the pharmaceutical company’s stock after selling 1,147 shares during the period. Ritholtz Wealth Management’s holdings in GSK were worth $2,941,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new position in shares of GSK during the fourth quarter worth $7,024,000. Natixis Advisors L.P. grew its position in shares of GSK by 10.7% in the 4th quarter. Natixis Advisors L.P. now owns 325,676 shares of the pharmaceutical company’s stock valued at $12,069,000 after buying an additional 31,566 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in GSK by 15.8% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 4,833 shares of the pharmaceutical company’s stock worth $179,000 after acquiring an additional 661 shares in the last quarter. Legacy Financial Advisors Inc. purchased a new stake in GSK in the fourth quarter valued at $259,000. Finally, Lincoln National Corp boosted its stake in GSK by 11.7% in the fourth quarter. Lincoln National Corp now owns 14,895 shares of the pharmaceutical company’s stock valued at $552,000 after acquiring an additional 1,560 shares in the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.

GSK Price Performance

Shares of NYSE GSK opened at $43.91 on Monday. The company’s fifty day moving average is $40.11 and its two-hundred day moving average is $41.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82. The firm has a market capitalization of $91.00 billion, a P/E ratio of 15.91, a PEG ratio of 1.42 and a beta of 0.64. GSK plc has a one year low of $33.67 and a one year high of $45.92.

GSK Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. 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 for the company. Four analysts have rated the stock with a hold rating, two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, GSK currently has a consensus rating of “Buy” and a consensus target price 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.