J.W. Cole Advisors Inc. increased its position in GSK plc (NYSE:GSK – Get Rating) by 27.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,795 shares of the pharmaceutical company’s stock after purchasing an additional 2,103 shares during the quarter. J.W. Cole Advisors Inc.’s holdings in GSK were worth $288,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in GSK by 10.8% in the second quarter. EverSource Wealth Advisors LLC now owns 2,593 shares of the pharmaceutical company’s stock worth $113,000 after purchasing an additional 253 shares during the period. Ipswich Investment Management Co. Inc. lifted its position in GSK by 2.7% in the second quarter. Ipswich Investment Management Co. Inc. now owns 10,440 shares of the pharmaceutical company’s stock worth $454,000 after purchasing an additional 275 shares during the period. Patten Group Inc. lifted its position in GSK by 5.9% in the second quarter. Patten Group Inc. now owns 5,399 shares of the pharmaceutical company’s stock worth $234,000 after purchasing an additional 300 shares during the period. Aveo Capital Partners LLC raised its stake in GSK by 4.5% during the second quarter. Aveo Capital Partners LLC now owns 7,105 shares of the pharmaceutical company’s stock worth $309,000 after acquiring an additional 304 shares in the last quarter. Finally, Zullo Investment Group Inc. raised its stake in GSK by 21.3% during the second quarter. Zullo Investment Group Inc. now owns 1,762 shares of the pharmaceutical company’s stock worth $77,000 after acquiring an additional 309 shares in the last quarter. 13.15% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Bank of America lowered GSK from a “neutral” rating to an “underperform” rating in a research note on Monday, December 5th. Barclays dropped their price objective on GSK from GBX 1,800 ($21.93) to GBX 1,450 ($17.67) in a research note on Friday, October 14th. Citigroup dropped their price objective on GSK from GBX 1,975 ($24.06) to GBX 1,550 ($18.88) in a research note on Friday, December 2nd. StockNews.com upgraded GSK from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 10th. Finally, JPMorgan Chase & Co. lowered GSK from a “neutral” rating to an “underweight” rating in a research note on Tuesday, January 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, GSK has an average rating of “Hold” and a consensus target price of $1,583.57.
GSK Stock Performance
GSK (NYSE:GSK – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.19. The business had revenue of $9.22 billion for the quarter, compared to analysts’ expectations of $7.75 billion. GSK had a return on equity of 32.18% and a net margin of 37.88%. On average, equities research analysts predict that GSK plc will post 3.3 EPS for the current fiscal year.
GSK Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 12th. Investors of record on Friday, November 18th were issued a $0.3695 dividend. This represents a $1.48 annualized dividend and a yield of 4.18%. The ex-dividend date of this dividend was Thursday, November 17th. GSK’s dividend payout ratio is 16.05%.
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.
- Get a free copy of the StockNews.com research report on GSK (GSK)
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