KG&L Capital Management LLC Reduces Stake in GSK plc (NYSE:GSK)

KG&L Capital Management LLC reduced its stake in shares of GSK plc (NYSE:GSK) by 74.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,581 shares of the pharmaceutical company’s stock after selling 33,002 shares during the period. KG&L Capital Management LLC’s holdings in GSK were worth $444,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd boosted its holdings in GSK by 71.3% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock worth $909,063,000 after buying an additional 8,800,822 shares during the period. Fisher Asset Management LLC grew its position in shares of GSK by 10.8% in the fourth quarter. Fisher Asset Management LLC now owns 15,065,558 shares of the pharmaceutical company’s stock valued at $558,330,000 after purchasing an additional 1,465,165 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of GSK by 0.3% during the 4th quarter. Primecap Management Co. CA now owns 12,089,370 shares of the pharmaceutical company’s stock valued at $448,032,000 after purchasing an additional 30,600 shares during the period. Mondrian Investment Partners LTD boosted its stake in GSK by 37.8% in the 1st quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after purchasing an additional 1,512,442 shares during the period. Finally, Provident Trust Co. grew its holdings in GSK by 53.6% during the 4th quarter. Provident Trust Co. now owns 3,716,830 shares of the pharmaceutical company’s stock valued at $137,746,000 after buying an additional 1,297,385 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Analyst Ratings Changes

GSK has been the subject of a number of analyst reports. The Goldman Sachs Group started coverage on shares of GSK in a research report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price objective for the company. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Citigroup upgraded GSK to a “strong-buy” rating in a research note on Monday, June 24th. Finally, Jefferies Financial Group raised their price target on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GSK has an average rating of “Buy” and a consensus target price of $50.00.

GSK Price Performance

NYSE:GSK traded up $0.05 during midday trading on Thursday, hitting $41.90. The company had a trading volume of 372,252 shares, compared to its average volume of 3,533,001. The stock’s fifty day moving average price is $39.76 and its 200-day moving average price is $41.50. GSK plc has a 52-week low of $33.67 and a 52-week high of $45.92. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $86.84 billion, a PE ratio of 15.16, a P/E/G ratio of 1.32 and a beta of 0.64.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be issued a dividend of $0.3843 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.67%. 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 (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.