GSK plc (NYSE:GSK) Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC increased its holdings in GSK plc (NYSE:GSK) by 8.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,661 shares of the pharmaceutical company’s stock after buying an additional 3,742 shares during the quarter. Naviter Wealth LLC’s holdings in GSK were worth $1,852,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Register Financial Advisors LLC purchased a new stake in shares of GSK in the first quarter worth about $31,000. Richardson Financial Services Inc. purchased a new stake in GSK in the 4th quarter worth approximately $40,000. PrairieView Partners LLC acquired a new stake in shares of GSK during the 2nd quarter worth approximately $47,000. Newbridge Financial Services Group Inc. purchased a new position in shares of GSK during the 1st quarter valued at approximately $49,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of GSK in the 2nd quarter valued at $49,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on GSK. Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Jefferies Financial Group increased their price target on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on GSK in a research report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, GSK presently has a consensus rating of “Buy” and a consensus price target of $50.00.

GSK Price Performance

NYSE GSK traded down $0.24 during mid-day trading on Tuesday, hitting $43.67. The stock had a trading volume of 1,377,254 shares, compared to its average volume of 3,559,165. The firm’s 50 day moving average is $40.17 and its 200 day moving average is $41.60. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54. The stock has a market capitalization of $90.51 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.42 and a beta of 0.64. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be paid a $0.3843 dividend. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 3.52%. 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.