Allspring Global Investments Holdings LLC Trims Stake in GSK plc (NYSE:GSK)

Allspring Global Investments Holdings LLC lowered its stake in shares of GSK plc (NYSE:GSK) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,165 shares of the pharmaceutical company’s stock after selling 599 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in GSK were worth $374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sunbelt Securities Inc. increased its position in shares of GSK by 73.8% during the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after buying an additional 302 shares during the period. Mesirow Financial Investment Management Inc. increased its position in shares of GSK by 2.0% during the third quarter. Mesirow Financial Investment Management Inc. now owns 16,693 shares of the pharmaceutical company’s stock valued at $682,000 after buying an additional 323 shares during the period. Rehmann Capital Advisory Group increased its position in shares of GSK by 6.3% during the third quarter. Rehmann Capital Advisory Group now owns 5,608 shares of the pharmaceutical company’s stock valued at $232,000 after buying an additional 332 shares during the period. Investment Partners Asset Management Inc. increased its position in shares of GSK by 2.3% during the third quarter. Investment Partners Asset Management Inc. now owns 15,559 shares of the pharmaceutical company’s stock valued at $636,000 after buying an additional 344 shares during the period. Finally, Bond & Devick Financial Network Inc. increased its position in shares of GSK by 5.4% during the third quarter. Bond & Devick Financial Network Inc. now owns 7,830 shares of the pharmaceutical company’s stock valued at $320,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Trading Up 1.1 %

NYSE:GSK opened at $37.03 on Tuesday. The company’s 50 day moving average price is $34.67 and its 200-day moving average price is $37.32. GSK plc has a 52 week low of $31.72 and a 52 week high of $45.92. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 1.12. The stock 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 posted its quarterly earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. On average, equities research analysts forecast that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

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

Analysts Set New Price Targets

GSK has been the topic of several research analyst reports. Jefferies Financial Group cut shares of GSK from a “buy” rating to a “hold” rating and reduced their price target for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Morgan Stanley initiated coverage on shares of GSK in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Guggenheim cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, GSK presently has a consensus rating of “Moderate Buy” and an average target price of $43.25.

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.