Federated Hermes Inc. Has $4.16 Million Stake in GSK plc (NYSE:GSK)

Federated Hermes Inc. lessened its stake in shares of GSK plc (NYSE:GSK) by 46.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,045 shares of the pharmaceutical company’s stock after selling 94,223 shares during the period. Federated Hermes Inc.’s holdings in GSK were worth $4,160,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group upped their price objective on shares of GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Barclays raised shares of GSK to a “hold” rating in a research report on Tuesday, August 27th. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Berenberg Bank upgraded GSK to a “strong-buy” rating in a report on Thursday, June 20th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, GSK has a consensus rating of “Buy” and an average target price of $50.00.

GSK Price Performance

GSK stock opened at $42.43 on Thursday. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92. The company’s 50 day moving average price is $41.30 and its two-hundred day moving average price is $41.71. The stock has a market cap of $87.94 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.41 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99.

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

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be given a dividend of $0.3843 per share. The ex-dividend date is Friday, August 16th. This represents a $1.54 annualized dividend and a yield of 3.62%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 54.71%.

GSK Company 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.