Chapin Davis Inc. Boosts Stake in GSK plc (NYSE:GSK)

Chapin Davis Inc. lifted its holdings in GSK plc (NYSE:GSK) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 14,591 shares of the pharmaceutical company’s stock after purchasing an additional 360 shares during the quarter. Chapin Davis Inc.’s holdings in GSK were worth $562,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in GSK during the first quarter valued at $31,000. Richardson Financial Services Inc. purchased a new position in GSK in the 4th quarter valued at about $40,000. Newbridge Financial Services Group Inc. acquired a new stake in GSK in the 1st quarter worth about $49,000. Triad Wealth Partners LLC purchased a new stake in GSK during the 2nd quarter worth approximately $49,000. Finally, Concord Wealth Partners raised its holdings in shares of GSK by 69.7% during the first quarter. Concord Wealth Partners now owns 1,436 shares of the pharmaceutical company’s stock valued at $62,000 after acquiring an additional 590 shares during the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

GSK has been the subject of several research reports. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Citigroup upgraded 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 report on Wednesday, August 7th. Finally, Jefferies Financial Group boosted their target price on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $50.00.

GSK Trading Up 0.6 %

Shares of GSK stock traded up $0.26 on Friday, hitting $41.28. 3,145,786 shares of the stock traded hands, compared to its average volume of 3,581,986. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92. The stock has a market capitalization of $85.55 billion, a PE ratio of 14.96, a PEG ratio of 1.32 and a beta of 0.64. The firm’s 50-day moving average price is $39.73 and its two-hundred day moving average price is $41.49. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.82.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be paid a $0.3843 dividend. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 3.72%. GSK’s dividend payout ratio is 54.71%.

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.