Douglas Lane & Associates LLC Sells 544,979 Shares of GSK plc (NYSE:GSK)

Douglas Lane & Associates LLC trimmed its stake in GSK plc (NYSE:GSK - Free Report) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,628,504 shares of the pharmaceutical company's stock after selling 544,979 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.08% of GSK worth $55,076,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Eastern Bank bought a new position in shares of GSK in the 3rd quarter worth $26,000. Sunbelt Securities Inc. increased its stake in GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company's stock worth $29,000 after purchasing an additional 302 shares during the period. Concord Wealth Partners lifted its position in GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock valued at $32,000 after purchasing an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in GSK during the 2nd quarter valued at $37,000. Finally, Fortitude Family Office LLC bought a new stake in shares of GSK in the third quarter worth about $42,000. 15.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

GSK Trading Down 1.1 %

Shares of GSK stock traded down $0.37 on Wednesday, reaching $33.72. The company had a trading volume of 2,709,096 shares, compared to its average volume of 2,795,279. The firm's 50-day moving average price is $34.59 and its two-hundred day moving average price is $38.30. GSK plc has a 1 year low of $32.83 and a 1 year high of $45.92. The firm has a market cap of $69.89 billion, a price-to-earnings ratio of 21.90, 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 current ratio of 0.81 and a quick ratio of 0.53.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.57 annualized dividend and a dividend yield of 4.66%. This is an increase from GSK's previous quarterly dividend of $0.38. 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.