Drive Wealth Management LLC Cuts Holdings in GSK plc (NYSE:GSK)

Drive Wealth Management LLC decreased its position in GSK plc (NYSE:GSKFree Report) by 24.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,736 shares of the pharmaceutical company’s stock after selling 1,831 shares during the period. Drive Wealth Management LLC’s holdings in GSK were worth $214,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GSK. Royal Bank of Canada grew its position in shares of GSK by 255.5% in the second quarter. Royal Bank of Canada now owns 7,690,026 shares of the pharmaceutical company’s stock valued at $274,071,000 after purchasing an additional 5,526,736 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of GSK by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,621,370 shares of the pharmaceutical company’s stock valued at $419,107,000 after purchasing an additional 2,362,274 shares during the period. Goldman Sachs Group Inc. grew its position in shares of GSK by 48.3% in the first quarter. Goldman Sachs Group Inc. now owns 7,113,039 shares of the pharmaceutical company’s stock valued at $309,844,000 after purchasing an additional 2,316,204 shares during the period. Nomura Holdings Inc. acquired a new stake in shares of GSK in the fourth quarter valued at about $73,232,000. Finally, Holocene Advisors LP grew its position in shares of GSK by 146.7% in the second quarter. Holocene Advisors LP now owns 2,917,836 shares of the pharmaceutical company’s stock valued at $103,992,000 after purchasing an additional 1,735,217 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley initiated coverage on shares of GSK in a research report on Tuesday, January 23rd. They set an “equal weight” rating on the stock. Citigroup upgraded shares of GSK from a “neutral” rating to a “buy” rating in a report on Tuesday, February 13th. Jefferies Financial Group upgraded shares of GSK from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Guggenheim upgraded shares of GSK from a “neutral” rating to a “buy” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy”.

View Our Latest Report on GSK

GSK Price Performance

GSK stock opened at $41.79 on Wednesday. The company’s 50 day simple moving average is $41.81 and its 200-day simple moving average is $38.48. The company has a market capitalization of $86.02 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64. GSK plc has a 1 year low of $33.33 and a 1 year high of $43.84. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.88.

GSK (NYSE:GSKGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). The company had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.79 billion. GSK had a net margin of 16.24% and a return on equity of 51.45%. As a group, equities research analysts expect that GSK plc will post 4.07 earnings per share for the current year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, February 23rd will be paid a dividend of $0.3564 per share. This is an increase from GSK’s previous quarterly dividend of $0.34. This represents a $1.43 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, February 22nd. GSK’s dividend payout ratio is presently 52.82%.

GSK Profile

(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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