Clark Capital Management Group Inc. Has $42.95 Million Holdings in GSK plc (NYSE:GSK)

Clark Capital Management Group Inc. raised its position in GSK plc (NYSE:GSKGet Rating) by 64.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 985,879 shares of the pharmaceutical company’s stock after purchasing an additional 385,539 shares during the quarter. Clark Capital Management Group Inc.’s holdings in GSK were worth $42,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GSK. JTC Employer Solutions Trustee Ltd boosted its position in GSK by 50.4% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 9,016,970 shares of the pharmaceutical company’s stock valued at $392,735,000 after buying an additional 3,023,634 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in GSK by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,621,370 shares of the pharmaceutical company’s stock valued at $419,107,000 after buying an additional 2,362,274 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of GSK by 90.1% during the first quarter. Acadian Asset Management LLC now owns 3,400,013 shares of the pharmaceutical company’s stock worth $148,070,000 after purchasing an additional 1,611,899 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of GSK by 39.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,796,835 shares of the pharmaceutical company’s stock worth $211,540,000 after purchasing an additional 1,365,400 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of GSK by 8.6% during the fourth quarter. Renaissance Technologies LLC now owns 10,225,421 shares of the pharmaceutical company’s stock worth $450,941,000 after purchasing an additional 811,000 shares in the last quarter. 16.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GSK. TheStreet lowered shares of GSK from a “b” rating to a “c+” rating in a research report on Monday, August 29th. Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Thursday. StockNews.com lowered shares of GSK from a “strong-buy” rating to a “buy” rating in a report on Thursday. Morgan Stanley cut their price objective on shares of GSK from GBX 1,860 ($22.47) to GBX 1,550 ($18.73) in a report on Wednesday. Finally, Credit Suisse Group increased their price objective on shares of GSK from GBX 1,400 ($16.92) to GBX 1,600 ($19.33) in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $1,700.00.

GSK Stock Up 1.2 %

GSK stock opened at $31.89 on Friday. The company has a market cap of $64.85 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.15 and a beta of 0.61. GSK plc has a 1-year low of $30.83 and a 1-year high of $46.97. The company has a fifty day simple moving average of $38.12 and a 200 day simple moving average of $41.63. The company has a current ratio of 1.43, a quick ratio of 1.31 and a debt-to-equity ratio of 0.83.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, August 19th will be paid a $0.383 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.53 dividend on an annualized basis and a yield of 4.80%. This is a boost from GSK’s previous quarterly dividend of $0.35. GSK’s dividend payout ratio (DPR) is currently 50.66%.

About GSK

(Get Rating)

GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

See Also

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GSK plc (NYSE:GSKGet Rating).

Institutional Ownership by Quarter for GSK (NYSE:GSK)

Receive News & Ratings for GSK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GSK and related companies with MarketBeat.com's FREE daily email newsletter.