NewEdge Wealth LLC Has $1.73 Million Stake in GSK plc (NYSE:GSK)

NewEdge Wealth LLC increased its position in shares of GSK plc (NYSE:GSK) by 23.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 51,010 shares of the pharmaceutical company’s stock after acquiring an additional 9,613 shares during the period. NewEdge Wealth LLC’s holdings in GSK were worth $1,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GSK. FMR LLC grew its holdings in shares of GSK by 8.3% during the third quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock worth $1,185,885,000 after purchasing an additional 2,224,345 shares during the last quarter. Fisher Asset Management LLC boosted its position in GSK by 4.9% during the 3rd quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock worth $759,425,000 after buying an additional 870,449 shares during the period. Primecap Management Co. CA grew its holdings in GSK by 2.4% during the 3rd quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock worth $607,222,000 after acquiring an additional 342,365 shares during the last quarter. Provident Trust Co. increased its position in GSK by 1.7% in the 3rd quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock valued at $161,623,000 after acquiring an additional 66,765 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of GSK by 30.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,542,143 shares of the pharmaceutical company’s stock valued at $144,803,000 after acquiring an additional 833,080 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 topic of several analyst reports. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $53.00 to $39.50 in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley started coverage on GSK in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.25.

GSK Stock Performance

Shares of GSK stock opened at $37.59 on Friday. The business has a 50-day moving average price of $34.99 and a two-hundred day moving average price of $37.26. GSK plc has a 1-year low of $31.72 and a 1-year high of $45.92. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12. The company has a market cap of $77.90 billion, a P/E ratio of 23.64, a PEG ratio of 1.12 and a beta of 0.64.

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

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, February 21st will be paid a $0.3932 dividend. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.57 annualized dividend and a dividend yield of 4.18%. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s payout ratio is currently 98.74%.

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.