Bank of New York Mellon Corp Raises Stock Position in GSK plc (NYSE:GSK)

Bank of New York Mellon Corp lifted its position in shares of GSK plc (NYSE:GSK) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 926,517 shares of the pharmaceutical company’s stock after acquiring an additional 69,649 shares during the quarter. Bank of New York Mellon Corp’s holdings in GSK were worth $35,671,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. JTC Employer Solutions Trustee Ltd boosted its position in GSK by 71.3% during the first quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock worth $909,063,000 after purchasing an additional 8,800,822 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of GSK by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 15,036,881 shares of the pharmaceutical company’s stock worth $557,267,000 after buying an additional 1,436,488 shares in the last quarter. Primecap Management Co. CA grew its stake in GSK by 0.3% in the 4th quarter. Primecap Management Co. CA now owns 12,089,370 shares of the pharmaceutical company’s stock valued at $448,032,000 after acquiring an additional 30,600 shares during the last quarter. Mondrian Investment Partners LTD grew its stake in GSK by 37.8% in the 1st quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock valued at $236,250,000 after acquiring an additional 1,512,442 shares during the last quarter. Finally, Equity Investment Corp increased its holdings in GSK by 4.8% during the 1st quarter. Equity Investment Corp now owns 3,398,571 shares of the pharmaceutical company’s stock valued at $145,697,000 after acquiring an additional 155,312 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Price Performance

Shares of NYSE:GSK opened at $43.91 on Tuesday. The company has a market cap of $91.00 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.42 and a beta of 0.64. The business has a fifty day simple moving average of $40.17 and a 200-day simple moving average of $41.60. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be issued a $0.3843 dividend. This is a boost 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 yield of 3.50%. GSK’s payout ratio is 54.71%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Jefferies Financial Group upped their price target on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Berenberg Bank raised GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Finally, The Goldman Sachs Group assumed coverage on shares of GSK in a research note on Thursday, May 30th. They issued a “neutral” rating and a $47.00 target price for the company. Four 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 MarketBeat, GSK has a consensus rating of “Buy” and a consensus price target of $50.00.

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.