Arrowstreet Capital Limited Partnership Sells 3,651,243 Shares of GSK plc (NYSE:GSK)

Arrowstreet Capital Limited Partnership cut its holdings in shares of GSK plc (NYSE:GSK - Free Report) by 94.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 218,256 shares of the pharmaceutical company's stock after selling 3,651,243 shares during the period. Arrowstreet Capital Limited Partnership's holdings in GSK were worth $7,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Level Four Advisory Services LLC grew its position in shares of GSK by 5.9% in the 4th quarter. Level Four Advisory Services LLC now owns 9,152 shares of the pharmaceutical company's stock valued at $310,000 after purchasing an additional 511 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of GSK by 20.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 21,087 shares of the pharmaceutical company's stock valued at $713,000 after buying an additional 3,581 shares during the period. Graney & King LLC acquired a new position in shares of GSK in the fourth quarter valued at approximately $76,000. Potentia Wealth bought a new stake in shares of GSK during the fourth quarter worth $381,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of GSK during the fourth quarter worth $59,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of GSK in a research note on Wednesday, February 12th. They issued an "equal weight" rating for the company. StockNews.com upgraded GSK from a "buy" rating to a "strong-buy" rating in a report on Friday, February 7th. Seven analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, GSK has a consensus rating of "Moderate Buy" and an average price target of $43.25.

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GSK Stock Up 2.9 %

Shares of NYSE GSK traded up $0.98 during mid-day trading on Friday, hitting $34.58. The company had a trading volume of 9,084,647 shares, compared to its average volume of 4,630,315. GSK plc has a one year low of $31.72 and a one year high of $45.93. The company has a market capitalization of $71.58 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.12 and a beta of 0.56. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12. The firm has a 50-day simple moving average of $37.52 and a two-hundred day simple moving average of $36.25.

GSK (NYSE:GSK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.44 by $0.15. GSK had a return on equity of 48.59% and a net margin of 8.13%. On average, equities analysts expect that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, February 21st were given a dividend of $0.3932 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Friday, February 21st. This is a positive change from GSK's previous quarterly dividend of $0.39. GSK's dividend payout ratio is presently 98.74%.

GSK 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.