GSK plc (NYSE:GSK) Position Lifted by Equity Investment Corp

Equity Investment Corp boosted its position in shares of GSK plc (NYSE:GSK) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,433,202 shares of the pharmaceutical company’s stock after buying an additional 34,631 shares during the period. GSK accounts for about 3.4% of Equity Investment Corp’s portfolio, making the stock its 5th largest holding. Equity Investment Corp owned 0.17% of GSK worth $132,178,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in GSK. 1832 Asset Management L.P. lifted its stake in shares of GSK by 9.1% in the first quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock worth $132,000 after buying an additional 257 shares in the last quarter. Personal CFO Solutions LLC boosted its holdings in shares of GSK by 2.7% during the 4th quarter. Personal CFO Solutions LLC now owns 10,087 shares of the pharmaceutical company’s stock worth $374,000 after purchasing an additional 263 shares during the last quarter. Boltwood Capital Management grew its position in shares of GSK by 2.5% in the second quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock valued at $429,000 after purchasing an additional 270 shares in the last quarter. J.W. Cole Advisors Inc. increased its holdings in shares of GSK by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 6,097 shares of the pharmaceutical company’s stock valued at $261,000 after purchasing an additional 271 shares during the last quarter. Finally, First Affirmative Financial Network lifted its position in GSK by 4.7% during the second quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock worth $245,000 after buying an additional 283 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK opened at $43.11 on Friday. The firm has a 50-day simple moving average of $40.96 and a two-hundred day simple moving average of $41.69. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54. GSK plc has a 1-year low of $33.67 and a 1-year high of $45.92. The stock has a market cap of $89.34 billion, a PE ratio of 15.62, a P/E/G ratio of 1.41 and a beta of 0.66.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be issued a $0.3843 dividend. This represents a $1.54 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is 54.71%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. The Goldman Sachs Group started coverage on shares of GSK in a report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price objective for the company. Citigroup raised shares of GSK to a “strong-buy” rating in a research note on Monday, June 24th. Argus raised 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 report on Thursday, June 20th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, GSK currently has an average rating of “Buy” and an average target price of $50.00.

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.