GSK plc (NYSE:GSK) Shares Sold by Innova Wealth Partners

Innova Wealth Partners decreased its holdings in GSK plc (NYSE:GSKFree Report) by 8.5% in the 4th quarter, HoldingsChannel reports. The firm owned 10,774 shares of the pharmaceutical company’s stock after selling 1,000 shares during the quarter. Innova Wealth Partners’ holdings in GSK were worth $399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GSK. Fisher Asset Management LLC boosted its stake in 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 acquiring an additional 1,465,165 shares in the last quarter. Provident Trust Co. lifted its stake in GSK by 53.6% in the fourth 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 during the last quarter. FMR LLC grew its position in shares of GSK by 7.7% during the third quarter. FMR LLC now owns 18,099,513 shares of the pharmaceutical company’s stock worth $656,107,000 after acquiring an additional 1,291,161 shares during the last quarter. Kahn Brothers Group Inc. acquired a new position in shares of GSK in the 3rd quarter valued at $46,483,000. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in GSK in the 3rd quarter valued at $45,114,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK stock traded up $0.17 during midday trading on Wednesday, reaching $45.83. 2,180,014 shares of the company traded hands, compared to its average volume of 3,469,532. The firm has a market cap of $94.98 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.65. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.87 and a quick ratio of 0.58. The firm’s 50 day simple moving average is $42.20 and its two-hundred day simple moving average is $39.62. GSK plc has a 1-year low of $33.33 and a 1-year high of $45.93.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, May 17th will be paid a $0.3762 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 3.28%. This is a boost from GSK’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, May 16th. GSK’s dividend payout ratio is presently 57.61%.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup raised GSK from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. Morgan Stanley began coverage on GSK in a research note on Tuesday, January 23rd. They set an “equal weight” rating for the company. Finally, Guggenheim upgraded shares of GSK from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GSK presently has an average rating of “Moderate Buy”.

View Our Latest Research Report on GSK

GSK Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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