Meritage Portfolio Management Has $5.31 Million Position in GSK plc (NYSE:GSK)

Meritage Portfolio Management lowered its holdings in shares of GSK plc (NYSE:GSK) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,102 shares of the pharmaceutical company’s stock after selling 2,544 shares during the quarter. Meritage Portfolio Management’s holdings in GSK were worth $5,313,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GSK. Eastern Bank bought a new stake in shares of GSK during the third quarter worth $26,000. Crews Bank & Trust bought a new position in GSK during the 4th quarter worth about $26,000. ST Germain D J Co. Inc. raised its stake in shares of GSK by 195.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company’s stock valued at $27,000 after purchasing an additional 522 shares during the period. Sunbelt Securities Inc. lifted its holdings in shares of GSK by 73.8% in the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares in the last quarter. Finally, Concord Wealth Partners boosted its position in shares of GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares during the period. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Price Performance

Shares of GSK opened at $34.84 on Wednesday. The company has a market cap of $72.22 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.38 and a beta of 0.64. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The company’s fifty day simple moving average is $34.10 and its 200 day simple moving average is $37.60. GSK plc has a 1-year low of $31.72 and a 1-year high of $45.92.

GSK (NYSE:GSK) last issued its earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.15. GSK had a net margin of 7.97% and a return on equity of 50.62%. On average, research analysts forecast that GSK plc will post 3.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

GSK has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and cut their price objective for the stock from $53.00 to $39.50 in a research report on Tuesday, November 12th. Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com cut shares of GSK from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, one has given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, GSK presently has an average rating of “Moderate Buy” and an average target price of $43.25.

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.