GSK plc (NYSE:GSK) Shares Sold by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC cut its holdings in shares of GSK plc (NYSE:GSK) by 30.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,138 shares of the pharmaceutical company’s stock after selling 5,831 shares during the period. Concurrent Investment Advisors LLC’s holdings in GSK were worth $444,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in GSK. Sunbelt Securities Inc. increased its position in shares of GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after acquiring an additional 302 shares during the period. Mesirow Financial Investment Management Inc. increased its position in shares of GSK by 2.0% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock valued at $682,000 after acquiring an additional 323 shares during the period. Rehmann Capital Advisory Group increased its position in shares of GSK by 6.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 5,608 shares of the pharmaceutical company’s stock valued at $232,000 after acquiring an additional 332 shares during the period. Investment Partners Asset Management Inc. increased its position in shares of GSK by 2.3% in the 3rd quarter. Investment Partners Asset Management Inc. now owns 15,559 shares of the pharmaceutical company’s stock valued at $636,000 after acquiring an additional 344 shares during the period. Finally, Bond & Devick Financial Network Inc. increased its position in shares of GSK by 5.4% in the 3rd quarter. Bond & Devick Financial Network Inc. now owns 7,830 shares of the pharmaceutical company’s stock valued at $320,000 after acquiring an additional 400 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GSK. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and cut their target price for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Morgan Stanley began coverage on shares of GSK in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Seven research analysts have rated the stock with a hold rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Price Performance

NYSE:GSK opened at $37.03 on Tuesday. The firm’s fifty day moving average is $34.67 and its two-hundred day moving average is $37.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.78. GSK plc has a one year low of $31.72 and a one year high of $45.92. The firm has a market cap of $76.74 billion, a price-to-earnings ratio of 23.29, a PEG ratio of 1.12 and a beta of 0.64.

GSK (NYSE:GSK) last released its quarterly earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. Research analysts expect that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, February 21st will be issued a $0.3932 dividend. This is an increase from GSK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.57 dividend on an annualized basis and a yield of 4.25%. GSK’s dividend payout ratio is presently 98.74%.

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.