ProVise Management Group LLC Trims Stock Holdings in GSK plc (NYSE:GSK)

ProVise Management Group LLC cut its holdings in shares of GSK plc (NYSE:GSK) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,028 shares of the pharmaceutical company’s stock after selling 1,575 shares during the quarter. ProVise Management Group LLC’s holdings in GSK were worth $4,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Register Financial Advisors LLC acquired a new stake in shares of GSK in the 1st quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in GSK during the second quarter valued at approximately $37,000. Richardson Financial Services Inc. bought a new position in GSK during the 4th quarter worth approximately $40,000. PrairieView Partners LLC acquired a new position in shares of GSK in the 2nd quarter worth approximately $47,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of GSK in the 2nd quarter valued at approximately $49,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GSK shares. Citigroup upgraded GSK to a “strong-buy” rating in a research note on Monday, June 24th. UBS Group downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a research report on Thursday, June 20th. The Goldman Sachs Group began coverage on shares of GSK in a report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $50.00.

GSK Stock Performance

GSK opened at $41.65 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $41.36 and its 200-day moving average is $41.71. The stock has a market cap of $86.32 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 1.41 and a beta of 0.66. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92.

GSK (NYSE:GSK) last announced its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.49 billion. On average, analysts predict that GSK plc will post 4.15 earnings per share for the current year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be issued a $0.3843 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.54 annualized dividend and a yield of 3.69%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 54.71%.

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.