JPMorgan Chase & Co. Cuts Stock Position in GSK plc (NYSE:GSK)

JPMorgan Chase & Co. cut its holdings in GSK plc (NYSE:GSK - Free Report) by 70.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370,815 shares of the pharmaceutical company's stock after selling 900,251 shares during the quarter. JPMorgan Chase & Co.'s holdings in GSK were worth $15,159,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of GSK in the 2nd quarter worth approximately $37,000. American Century Companies Inc. boosted its stake in GSK by 42.2% during the second quarter. American Century Companies Inc. now owns 544,079 shares of the pharmaceutical company's stock worth $20,947,000 after buying an additional 161,448 shares during the period. BOKF NA increased its position in GSK by 20.8% during the second quarter. BOKF NA now owns 10,389 shares of the pharmaceutical company's stock valued at $400,000 after acquiring an additional 1,787 shares during the last quarter. Equity Investment Corp increased its position in GSK by 1.0% during the second quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company's stock valued at $132,178,000 after acquiring an additional 34,631 shares during the last quarter. Finally, Thoroughbred Financial Services LLC raised its stake in shares of GSK by 6.6% in the second quarter. Thoroughbred Financial Services LLC now owns 6,908 shares of the pharmaceutical company's stock valued at $265,000 after acquiring an additional 428 shares during the period. Institutional investors own 15.74% of the company's stock.

GSK Trading Down 2.0 %

Shares of NYSE GSK traded down $0.67 during trading hours on Friday, reaching $33.08. The stock had a trading volume of 3,841,745 shares, compared to its average volume of 2,969,756. GSK plc has a 52-week low of $32.83 and a 52-week high of $45.92. The firm has a market cap of $68.56 billion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.52 and a beta of 0.63. The business's fifty day moving average price is $34.38 and its two-hundred day moving average price is $38.17. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Friday, November 15th were issued a $0.3928 dividend. This represents a $1.57 annualized dividend and a dividend yield of 4.75%. This is a boost from GSK's previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 15th. GSK's dividend payout ratio is currently 98.70%.

Wall Street Analyst Weigh In

GSK has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft cut shares of GSK from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Jefferies Financial Group lowered GSK from a "buy" rating to a "hold" rating and dropped their target price for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Guggenheim cut GSK from a "buy" rating to a "neutral" rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered GSK from a "strong-buy" rating to a "buy" rating in a research note on Sunday, January 5th. Seven investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target 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.