Cohen Klingenstein LLC Sells 13,200 Shares of GSK plc (NYSE:GSK)

Cohen Klingenstein LLC lessened its position in GSK plc (NYSE:GSK) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,140 shares of the pharmaceutical company’s stock after selling 13,200 shares during the quarter. Cohen Klingenstein LLC’s holdings in GSK were worth $4,048,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirador Capital Partners LP increased its stake in shares of GSK by 4.7% in the second quarter. Mirador Capital Partners LP now owns 15,420 shares of the pharmaceutical company’s stock worth $594,000 after purchasing an additional 687 shares during the period. Bond & Devick Financial Network Inc. increased its position in GSK by 7.5% in the 2nd quarter. Bond & Devick Financial Network Inc. now owns 7,430 shares of the pharmaceutical company’s stock worth $286,000 after buying an additional 520 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of GSK by 8.6% during the second quarter. Hexagon Capital Partners LLC now owns 9,967 shares of the pharmaceutical company’s stock worth $384,000 after buying an additional 791 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of GSK by 7.8% in the second quarter. QRG Capital Management Inc. now owns 195,367 shares of the pharmaceutical company’s stock valued at $7,522,000 after acquiring an additional 14,202 shares during the period. Finally, Cardinal Capital Management grew its stake in shares of GSK by 2.6% in the second quarter. Cardinal Capital Management now owns 55,564 shares of the pharmaceutical company’s stock worth $2,160,000 after acquiring an additional 1,390 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GSK shares. 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 target price for the company. UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Jefferies Financial Group boosted their price target on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. Finally, Argus upgraded GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $50.00.

GSK Price Performance

Shares of GSK stock traded up $0.06 during trading hours on Monday, hitting $40.32. The company had a trading volume of 2,605,886 shares, compared to its average volume of 3,603,749. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.82. The firm’s fifty day moving average is $39.75 and its 200 day moving average is $41.43. The firm has a market capitalization of $83.56 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 1.32 and a beta of 0.64.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be given a $0.3843 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 3.81%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. GSK’s dividend payout ratio is 54.71%.

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.