Investment Partners Asset Management Inc. Has $636,000 Stock Position in GSK plc (NYSE:GSK)

Investment Partners Asset Management Inc. increased its position in GSK plc (NYSE:GSK) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,559 shares of the pharmaceutical company’s stock after buying an additional 344 shares during the period. Investment Partners Asset Management Inc.’s holdings in GSK were worth $636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GSK. 1832 Asset Management L.P. grew its position in GSK by 9.1% during the first quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock valued at $132,000 after acquiring an additional 257 shares during the last quarter. Boltwood Capital Management raised its position in GSK by 2.5% in the 2nd quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock worth $429,000 after purchasing an additional 270 shares during the period. J.W. Cole Advisors Inc. lifted its stake in GSK by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 6,097 shares of the pharmaceutical company’s stock worth $261,000 after purchasing an additional 271 shares during the last quarter. First Affirmative Financial Network boosted 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 valued at $245,000 after buying an additional 283 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of GSK by 9.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock valued at $137,000 after buying an additional 303 shares during the last quarter. 15.74% of the stock is owned by institutional investors.

GSK Stock Performance

Shares of GSK stock traded up $0.45 during mid-day trading on Monday, reaching $37.97. 869,199 shares of the company’s stock traded hands, compared to its average volume of 3,731,266. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82. The firm has a market capitalization of $78.69 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.23 and a beta of 0.65. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The firm has a 50 day moving average price of $41.12 and a two-hundred day moving average price of $41.15.

GSK (NYSE:GSK) last issued its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.49 billion. GSK had a return on equity of 51.48% and a net margin of 12.87%. On average, research analysts forecast that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Friday, August 16th were given a $0.3843 dividend. The ex-dividend date was Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 4.05%. GSK’s dividend payout ratio (DPR) is currently 62.10%.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the purchase, the insider now owns 16,775,691 shares in the company, valued at approximately $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 10.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GSK shares. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Jefferies Financial Group increased their price target on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Finally, Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price 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.