GSK plc (NYSE:GSK) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC trimmed its holdings in GSK plc (NYSE:GSK - Free Report) by 74.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,581 shares of the pharmaceutical company's stock after selling 33,002 shares during the quarter. KG&L Capital Management LLC's holdings in GSK were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. raised its position in shares of GSK by 10.8% during the second quarter. Atria Wealth Solutions Inc. now owns 33,938 shares of the pharmaceutical company's stock worth $1,309,000 after purchasing an additional 3,310 shares during the period. Aaron Wealth Advisors LLC increased its position in shares of GSK by 11.7% in the second quarter. Aaron Wealth Advisors LLC now owns 18,608 shares of the pharmaceutical company's stock worth $716,000 after acquiring an additional 1,951 shares in the last quarter. Long Run Wealth Advisors LLC raised its holdings in shares of GSK by 1.9% during the second quarter. Long Run Wealth Advisors LLC now owns 82,543 shares of the pharmaceutical company's stock valued at $3,178,000 after acquiring an additional 1,537 shares during the period. Chapin Davis Inc. lifted its position in shares of GSK by 2.5% in the 2nd quarter. Chapin Davis Inc. now owns 14,591 shares of the pharmaceutical company's stock valued at $562,000 after acquiring an additional 360 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its stake in GSK by 20.1% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 259,872 shares of the pharmaceutical company's stock worth $10,109,000 after purchasing an additional 43,422 shares during the period. Institutional investors own 15.74% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on GSK from $52.50 to $53.00 and gave the company a "buy" rating in a report on Tuesday, July 2nd. The Goldman Sachs Group started coverage on GSK in a research note on Thursday, May 30th. They set a "neutral" rating and a $47.00 target price on the stock. Citigroup raised shares of GSK to a "strong-buy" rating in a research report on Monday, June 24th. Argus upgraded shares of GSK to a "strong-buy" rating in a research note on Wednesday, August 7th. Finally, Berenberg Bank raised shares of GSK to a "strong-buy" rating in a research note on Thursday, June 20th. Three analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, GSK currently has an average rating of "Buy" and a consensus target price of $50.00.

GSK Stock Up 0.2 %

GSK stock traded up $0.09 during trading hours on Thursday, hitting $41.94. The company's stock had a trading volume of 1,326,970 shares, compared to its average volume of 3,538,581. The stock has a 50 day moving average price of $39.78 and a two-hundred day moving average price of $41.51. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The company has a market capitalization of $86.92 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.32 and a beta of 0.64. The company has a quick ratio of 0.58, a current ratio of 0.82 and a debt-to-equity ratio of 0.99.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.3843 per share. This represents a $1.54 annualized dividend and a yield of 3.67%. This is an increase from GSK's previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. GSK's dividend payout ratio is presently 54.71%.

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.