Royal Fund Management LLC Has $875,000 Holdings in GSK plc (NYSE:GSK)

Royal Fund Management LLC cut its stake in shares of GSK plc (NYSE:GSK) by 8.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,698 shares of the pharmaceutical company’s stock after selling 2,133 shares during the period. Royal Fund Management LLC’s holdings in GSK were worth $875,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GSK. Register Financial Advisors LLC acquired a new stake in shares of GSK during the first quarter worth $31,000. Richardson Financial Services Inc. acquired a new stake in shares of GSK during the fourth quarter worth $40,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of GSK during the first quarter worth $49,000. Triad Wealth Partners LLC acquired a new stake in shares of GSK during the second quarter worth $49,000. Finally, Jones Financial Companies Lllp grew its stake in GSK by 23.1% in the fourth quarter. Jones Financial Companies Lllp now owns 1,633 shares of the pharmaceutical company’s stock valued at $61,000 after acquiring an additional 306 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Citigroup raised GSK to a “strong-buy” rating in a research note on Monday, June 24th. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Berenberg Bank raised GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Finally, UBS Group cut GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Three investment 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’s stock. According to data from MarketBeat.com, GSK currently has an average rating of “Buy” and a consensus target price of $50.00.

GSK Price Performance

NYSE:GSK traded up $0.26 during trading hours on Friday, reaching $41.28. 3,145,786 shares of the company were exchanged, compared to its average volume of 3,581,986. The company has a market capitalization of $85.55 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.32 and a beta of 0.64. GSK plc has a 1-year low of $33.67 and a 1-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 0.58. The business has a 50 day moving average of $39.73 and a 200 day moving average of $41.46.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be issued a $0.3843 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is currently 54.71%.

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.