JPMorgan Chase & Co. Reduces Stock Position in GSK plc (NYSE:GSK)

JPMorgan Chase & Co. trimmed its position in shares of GSK plc (NYSE:GSK) by 70.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 370,815 shares of the pharmaceutical company’s stock after selling 900,251 shares during the period. JPMorgan Chase & Co.’s holdings in GSK were worth $15,159,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Eastern Bank bought a new position in shares of GSK during the third quarter valued at approximately $26,000. Sunbelt Securities Inc. grew its position in GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after acquiring an additional 302 shares during the last quarter. Concord Wealth Partners increased its stake in GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK during the second quarter worth $37,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of GSK during the third quarter valued at $42,000. 15.74% of the stock is owned by hedge funds and other institutional investors.

GSK Price Performance

Shares of GSK opened at $33.08 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. The company has a 50 day moving average price of $34.38 and a 200-day moving average price of $38.19. GSK plc has a fifty-two week low of $32.83 and a fifty-two week high of $45.92. The stock has a market capitalization of $68.56 billion, a PE ratio of 21.48, a PEG ratio of 1.52 and a beta of 0.63.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Friday, November 15th were paid a dividend of $0.3928 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, November 15th. GSK’s dividend payout ratio is 98.70%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com downgraded shares of GSK from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 5th. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group lowered GSK from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $39.50 in a report on Tuesday, November 12th. Finally, Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Seven research analysts have rated the stock with a hold rating, one has given a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.