NORTHSTAR ASSET MANAGEMENT Co LLC Grows Stock Position in GSK plc (NYSE:GSK)

NORTHSTAR ASSET MANAGEMENT Co LLC increased its holdings in shares of GSK plc (NYSE:GSK) by 13.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,005 shares of the pharmaceutical company’s stock after buying an additional 728 shares during the quarter. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in GSK were worth $231,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new position in shares of GSK in the 1st quarter worth about $31,000. Richardson Financial Services Inc. purchased a new position in shares of GSK in the 4th quarter worth about $40,000. Newbridge Financial Services Group Inc. purchased a new position in shares of GSK in the 1st quarter worth about $49,000. Triad Wealth Partners LLC purchased a new position in shares of GSK in the 2nd quarter worth about $49,000. Finally, Concord Wealth Partners grew its stake in shares of GSK by 69.7% in the first quarter. Concord Wealth Partners now owns 1,436 shares of the pharmaceutical company’s stock valued at $62,000 after buying an additional 590 shares in the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Stock Up 0.6 %

NYSE GSK traded up $0.26 during mid-day trading on Friday, reaching $41.28. 3,145,786 shares of the company’s stock traded hands, compared to its average volume of 3,581,986. GSK plc has a 1-year low of $33.67 and a 1-year high of $45.92. The company has a fifty day simple moving average of $39.73 and a 200-day simple moving average of $41.47. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99. The company has a market cap of $85.55 billion, a price-to-earnings ratio of 14.96, a P/E/G ratio of 1.32 and a beta of 0.64.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.3843 per share. This represents a $1.54 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Friday, August 16th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is 54.71%.

Wall Street Analyst Weigh In

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

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.