InvesTrust Makes New Investment in GSK plc (NYSE:GSK)

InvesTrust bought a new position in GSK plc (NYSE:GSK - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 101,298 shares of the pharmaceutical company's stock, valued at approximately $3,422,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GSK. Eastern Bank acquired a new position in shares of GSK in the 3rd quarter valued at about $26,000. Sunbelt Securities Inc. lifted its holdings in 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 acquiring an additional 302 shares during the period. Concord Wealth Partners boosted its position in 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 purchasing an additional 547 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of GSK during the 2nd quarter worth approximately $37,000. Finally, Fortitude Family Office LLC purchased a new position in shares of GSK during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 15.74% of the company's stock.

Analysts Set New Price Targets

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

GSK Price Performance

Shares of GSK stock traded down $0.37 during mid-day trading on Wednesday, reaching $33.72. 2,709,096 shares of the stock traded hands, compared to its average volume of 2,795,279. The stock has a market capitalization of $69.89 billion, a PE ratio of 21.90, a PEG ratio of 1.52 and a beta of 0.63. The business has a 50-day moving average of $34.59 and a 200 day moving average of $38.30. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The firm also recently declared 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. This is an increase from GSK's previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 4.66%. The ex-dividend date of this dividend is Friday, November 15th. GSK's dividend payout ratio (DPR) 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.