Bruce G. Allen Investments LLC Increases Position in GSK plc (NYSE:GSK)

Bruce G. Allen Investments LLC lifted its holdings in GSK plc (NYSE:GSK) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,748 shares of the pharmaceutical company’s stock after buying an additional 469 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in GSK were worth $332,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Versant Capital Management Inc grew its position in GSK by 2,816.7% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the pharmaceutical company’s stock valued at $26,000 after acquiring an additional 676 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of GSK in the fourth quarter worth about $32,000. Richardson Financial Services Inc. purchased a new position in GSK in the 4th quarter worth about $40,000. Jones Financial Companies Lllp lifted its holdings in GSK by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,327 shares of the pharmaceutical company’s stock valued at $48,000 after buying an additional 509 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its position in GSK by 54.3% in the 4th quarter. Princeton Global Asset Management LLC now owns 1,515 shares of the pharmaceutical company’s stock valued at $56,000 after buying an additional 533 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GSK has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of GSK in a research note on Thursday, May 30th. They set a “neutral” rating and a $47.00 price target for the company. Guggenheim raised GSK from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

GSK Stock Down 0.5 %

Shares of NYSE:GSK traded down $0.19 during trading hours on Thursday, hitting $40.76. The company’s stock had a trading volume of 2,538,127 shares, compared to its average volume of 3,558,920. The firm’s fifty day moving average price is $42.56 and its 200 day moving average price is $41.03. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92. The company has a market capitalization of $84.47 billion, a price-to-earnings ratio of 14.77, a P/E/G ratio of 1.24 and a beta of 0.66. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.87 and a quick ratio of 0.58.

GSK (NYSE:GSK) last issued its quarterly earnings data on Wednesday, May 1st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.15. The company had revenue of $9.34 billion for 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, research analysts expect that GSK plc will post 4.11 EPS for the current year.

GSK Increases Dividend

The business 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 $0.3762 dividend. This represents a $1.50 annualized dividend and a dividend yield of 3.69%. This is a positive change from GSK’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, May 16th. GSK’s payout ratio is presently 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.