GSK plc (NYSE:GSK) Stock Position Lowered by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in shares of GSK plc (NYSE:GSK - Free Report) by 12.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,519 shares of the pharmaceutical company's stock after selling 7,722 shares during the period. Park Avenue Securities LLC's holdings in GSK were worth $1,776,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eastern Bank acquired a new position in GSK during the 3rd quarter worth $26,000. ST Germain D J Co. Inc. grew its stake in GSK by 195.5% in the fourth quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company's stock worth $27,000 after purchasing an additional 522 shares in the last quarter. Sunbelt Securities Inc. increased 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 buying an additional 302 shares during the last quarter. Concord Wealth Partners raised its stake in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock valued at $32,000 after buying an additional 547 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new position in GSK during the 3rd quarter worth approximately $42,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on GSK shares. Deutsche Bank Aktiengesellschaft downgraded GSK from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Guggenheim cut shares of GSK from a "buy" rating to a "neutral" rating in a report on Thursday, October 31st. Jefferies Financial Group lowered shares of GSK from a "buy" rating to a "hold" rating and decreased their price target for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Finally, StockNews.com upgraded shares of GSK from a "buy" rating to a "strong-buy" rating in a research note on Monday, January 13th. Seven research analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.25.

GSK Stock Performance

NYSE GSK traded up $0.02 on Friday, hitting $33.46. The stock had a trading volume of 3,930,425 shares, compared to its average volume of 2,865,091. The company's 50-day moving average is $34.02 and its two-hundred day moving average is $37.98. GSK plc has a one year low of $31.72 and a one year high of $45.92. The stock has a market cap of $69.34 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 1.44 and a beta of 0.63. 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 was paid on Thursday, January 9th. Stockholders of record on Friday, November 15th were issued a dividend of $0.3928 per share. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.70%. This is a positive change from GSK's previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 15th. GSK's dividend payout ratio (DPR) is 96.10%.

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.