Veritable L.P. acquired a new stake in GSK plc (NYSE:GSK – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,686 shares of the pharmaceutical company’s stock, valued at approximately $203,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. DAVENPORT & Co LLC increased its stake in shares of GSK by 16.7% in the second quarter. DAVENPORT & Co LLC now owns 33,694 shares of the pharmaceutical company’s stock worth $1,201,000 after acquiring an additional 4,833 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in GSK by 4.9% during the first quarter. SeaCrest Wealth Management LLC now owns 27,221 shares of the pharmaceutical company’s stock worth $969,000 after buying an additional 1,273 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in GSK by 2.3% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 151,832 shares of the pharmaceutical company’s stock worth $5,411,000 after buying an additional 3,390 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in GSK by 5.1% during the second quarter. Janney Montgomery Scott LLC now owns 592,557 shares of the pharmaceutical company’s stock worth $21,119,000 after buying an additional 28,576 shares in the last quarter. Finally, AlphaCentric Advisors LLC boosted its holdings in GSK by 31.1% during the first quarter. AlphaCentric Advisors LLC now owns 80,000 shares of the pharmaceutical company’s stock worth $2,846,000 after buying an additional 19,000 shares in the last quarter. 13.53% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 1st. Three equities research analysts have rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $1,553.75.
GSK Price Performance
Shares of NYSE GSK opened at $35.11 on Tuesday. The firm has a 50-day simple moving average of $36.05 and a 200-day simple moving average of $35.44. The stock has a market capitalization of $71.89 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 1.65 and a beta of 0.66. The company has a quick ratio of 0.70, a current ratio of 0.95 and a debt-to-equity ratio of 1.27. GSK plc has a 52 week low of $33.17 and a 52 week high of $39.74.
GSK Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 17th will be given a $0.3398 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, November 16th. GSK’s dividend payout ratio (DPR) is 35.48%.
GSK plc, together with its subsidiaries, engages in the research, development and manufacture of vaccines and specialty medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.
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