Envestnet Asset Management Inc. Grows Position in GSK plc (NYSE:GSK)

Envestnet Asset Management Inc. grew its stake in shares of GSK plc (NYSE:GSKFree Report) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,895,734 shares of the pharmaceutical company’s stock after buying an additional 270,149 shares during the period. Envestnet Asset Management Inc. owned 0.09% of GSK worth $70,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dorsey & Whitney Trust CO LLC grew its position in shares of GSK by 2.9% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 10,986 shares of the pharmaceutical company’s stock valued at $407,000 after purchasing an additional 306 shares during the period. Jones Financial Companies Lllp grew its position in shares of GSK by 23.1% in the fourth quarter. Jones Financial Companies Lllp now owns 1,633 shares of the pharmaceutical company’s stock valued at $61,000 after purchasing an additional 306 shares during the period. Cape Investment Advisory Inc. grew its position in shares of GSK by 4.8% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,686 shares of the pharmaceutical company’s stock valued at $248,000 after purchasing an additional 308 shares during the period. Caprock Group LLC grew its position in shares of GSK by 2.8% in the fourth quarter. Caprock Group LLC now owns 11,513 shares of the pharmaceutical company’s stock valued at $430,000 after purchasing an additional 317 shares during the period. Finally, Horizon Bancorp Inc. IN grew its position in shares of GSK by 8.9% in the fourth quarter. Horizon Bancorp Inc. IN now owns 3,961 shares of the pharmaceutical company’s stock valued at $147,000 after purchasing an additional 323 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

GSK has been the subject of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on GSK in a research report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price objective for the company. Citigroup upgraded GSK from a “neutral” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, Guggenheim upgraded GSK from a “neutral” rating to a “buy” rating in a report on Monday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, GSK currently has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Get Our Latest Research Report on GSK

GSK Trading Down 0.8 %

Shares of GSK opened at $41.21 on Monday. The stock’s 50-day moving average is $42.61 and its two-hundred day moving average is $40.78. The stock has a market cap of $85.41 billion, a PE ratio of 14.93, a P/E/G ratio of 1.24 and a beta of 0.66. GSK plc has a 12 month low of $33.67 and a 12 month high of $45.92. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.87 and a quick ratio of 0.58.

GSK (NYSE:GSKGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The pharmaceutical company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.15. The company had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $8.98 billion. GSK had a return on equity of 51.54% and a net margin of 14.62%. Equities analysts forecast that GSK plc will post 4.11 earnings per share for the current fiscal year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be given a dividend of $0.3762 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.65%. This is a positive change from GSK’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, May 16th. GSK’s payout ratio is presently 53.26%.

About GSK

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for GSK (NYSE:GSK)

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