NorthCrest Asset Manangement LLC Sells 527 Shares of GSK plc (NYSE:GSK)

NorthCrest Asset Manangement LLC lowered its holdings in shares of GSK plc (NYSE:GSK) by 0.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 383,061 shares of the pharmaceutical company’s stock after selling 527 shares during the period. NorthCrest Asset Manangement LLC’s holdings in GSK were worth $12,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eastern Bank acquired a new position in GSK in the third quarter worth about $26,000. Sunbelt Securities Inc. grew its stake in shares of GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares during the period. Concord Wealth Partners raised its holdings in shares of GSK by 231.8% in the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of GSK during the 2nd quarter worth approximately $37,000. Finally, Fortitude Family Office LLC acquired a new stake in GSK in the 3rd quarter valued at $42,000. 15.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GSK shares. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and cut their price target for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. StockNews.com cut shares of GSK from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th. Finally, Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Price Performance

GSK traded down $0.52 during midday trading on Friday, hitting $33.23. The company had a trading volume of 1,397,186 shares, compared to its average volume of 2,548,916. GSK plc has a twelve month low of $32.83 and a twelve month high of $45.92. The firm’s 50-day simple moving average is $34.46 and its 200-day simple moving average is $38.24. The company has a market capitalization of $68.87 billion, a PE ratio of 21.58, a P/E/G ratio of 1.52 and a beta of 0.63. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Friday, November 15th were issued a dividend of $0.3928 per share. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.73%. GSK’s dividend payout ratio is currently 98.70%.

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.