Hennessy Advisors Inc. Sells 2,600 Shares of GSK plc (NYSE:GSK)

Hennessy Advisors Inc. lowered its holdings in shares of GSK plc (NYSE:GSK) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,060 shares of the pharmaceutical company’s stock after selling 2,600 shares during the period. Hennessy Advisors Inc.’s holdings in GSK were worth $4,969,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Register Financial Advisors LLC purchased a new stake in shares of GSK in the 1st quarter worth approximately $31,000. Richardson Financial Services Inc. bought a new position in shares of GSK during the fourth quarter valued at $40,000. Newbridge Financial Services Group Inc. purchased a new position in shares of GSK in the 1st quarter worth about $49,000. Triad Wealth Partners LLC bought a new position in GSK in the 2nd quarter worth about $49,000. Finally, Jones Financial Companies Lllp grew its position in GSK by 23.1% during the 4th quarter. Jones Financial Companies Lllp now owns 1,633 shares of the pharmaceutical company’s stock valued at $61,000 after purchasing an additional 306 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on GSK. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a research note on Thursday, June 20th. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Jefferies Financial Group boosted their target price on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Citigroup upgraded shares of GSK to a “strong-buy” rating in a research note on Monday, June 24th. Three research 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, the company currently has an average rating of “Buy” and a consensus price target of $50.00.

GSK Trading Up 0.7 %

Shares of NYSE GSK opened at $42.23 on Friday. 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’s 50 day moving average is $39.78 and its two-hundred day moving average is $41.51. The stock has a market capitalization of $87.52 billion, a P/E ratio of 15.20, a PEG ratio of 1.32 and a beta of 0.64.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 3.64%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 54.71%.

GSK Company 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.