Ballentine Partners LLC Sells 3,015 Shares of GSK plc (NYSE:GSK)

Ballentine Partners LLC reduced its holdings in shares of GSK plc (NYSE:GSK) by 20.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 12,066 shares of the pharmaceutical company’s stock after selling 3,015 shares during the period. Ballentine Partners LLC’s holdings in GSK were worth $465,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Koss Olinger Consulting LLC bought a new position in GSK in the second quarter valued at $2,421,000. Caprock Group LLC grew its holdings in shares of GSK by 115.6% in the 2nd quarter. Caprock Group LLC now owns 26,000 shares of the pharmaceutical company’s stock valued at $1,011,000 after acquiring an additional 13,943 shares in the last quarter. Gallacher Capital Management LLC increased its position in shares of GSK by 5.1% in the second quarter. Gallacher Capital Management LLC now owns 10,764 shares of the pharmaceutical company’s stock valued at $414,000 after acquiring an additional 526 shares during the last quarter. Strategic Financial Concepts LLC bought a new stake in GSK during the second quarter worth about $129,000. Finally, Letko Brosseau & Associates Inc. boosted its position in GSK by 0.5% during the second quarter. Letko Brosseau & Associates Inc. now owns 1,184,095 shares of the pharmaceutical company’s stock valued at $45,588,000 after purchasing an additional 5,900 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Price Performance

NYSE:GSK opened at $44.09 on Wednesday. The company has a market cap of $91.38 billion, a P/E ratio of 15.97, a P/E/G ratio of 1.41 and a beta of 0.66. The firm’s fifty day moving average price is $40.76 and its two-hundred day moving average price is $41.67. GSK plc has a one year low of $33.67 and a one year high of $45.92. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be paid a $0.3843 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a yield of 3.49%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is 54.71%.

Analysts Set New Price Targets

Several research firms have weighed in on GSK. The Goldman Sachs Group started coverage on GSK in a research report on Thursday, May 30th. They set a “neutral” rating and a $47.00 price target on the stock. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Citigroup raised shares of GSK to a “strong-buy” rating in a research report on Monday, June 24th. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group lifted their price target on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $50.00.

GSK Company 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.