Naviter Wealth LLC Decreases Stock Holdings in GSK plc (NYSE:GSK)

Naviter Wealth LLC cut its position in GSK plc (NYSE:GSK) by 1.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,919 shares of the pharmaceutical company’s stock after selling 829 shares during the quarter. Naviter Wealth LLC’s holdings in GSK were worth $1,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Farmers & Merchants Investments Inc. boosted its stake in shares of GSK by 96.3% in the first quarter. Farmers & Merchants Investments Inc. now owns 4,455 shares of the pharmaceutical company’s stock valued at $191,000 after purchasing an additional 2,185 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of GSK by 43.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 13,546 shares of the pharmaceutical company’s stock valued at $581,000 after purchasing an additional 4,126 shares during the period. Diversified Trust Co acquired a new stake in GSK in the first quarter valued at $878,000. Mirador Capital Partners LP raised its holdings in GSK by 5.2% in the first quarter. Mirador Capital Partners LP now owns 14,733 shares of the pharmaceutical company’s stock valued at $632,000 after acquiring an additional 722 shares in the last quarter. Finally, Chapin Davis Inc. raised its holdings in GSK by 2.2% in the first quarter. Chapin Davis Inc. now owns 14,231 shares of the pharmaceutical company’s stock valued at $610,000 after acquiring an additional 300 shares in the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GSK has been the topic of several recent analyst reports. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. 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. Citigroup raised shares of GSK to a “strong-buy” rating in a report on Monday, June 24th. Guggenheim raised shares of GSK from a “neutral” rating to a “buy” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group assumed coverage on shares of GSK in a report on Thursday, May 30th. They set a “neutral” rating and a $47.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $50.00.

GSK Stock Performance

Shares of NYSE:GSK traded down $0.18 on Tuesday, reaching $38.21. 3,354,068 shares of the company’s stock were exchanged, compared to its average volume of 3,652,026. The firm has a market capitalization of $79.18 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.16 and a beta of 0.64. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The business’s 50-day moving average is $42.47 and its two-hundred day moving average is $41.24. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.15.

GSK (NYSE:GSK) last released its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.94 by $0.15. The business had revenue of $9.34 billion during the quarter, compared to analyst estimates of $8.98 billion. GSK had a net margin of 14.62% and a return on equity of 51.54%. As a group, equities research analysts forecast that GSK plc will post 4.11 EPS for the current year.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be given a dividend of $0.3762 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.50 annualized dividend and a dividend yield of 3.94%. This is a positive change from GSK’s previous quarterly dividend of $0.36. GSK’s dividend payout ratio is currently 53.26%.

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.