Cerro Pacific Wealth Advisors LLC Trims Holdings in GSK plc (NYSE:GSK)

Cerro Pacific Wealth Advisors LLC trimmed its holdings in shares of GSK plc (NYSE:GSK) by 32.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,297 shares of the pharmaceutical company’s stock after selling 5,360 shares during the quarter. Cerro Pacific Wealth Advisors LLC’s holdings in GSK were worth $382,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kelleher Financial Advisors lifted its holdings in GSK by 13.5% during the 4th quarter. Kelleher Financial Advisors now owns 11,387 shares of the pharmaceutical company’s stock valued at $385,000 after buying an additional 1,357 shares in the last quarter. Cetera Trust Company N.A grew its stake in GSK by 7.9% in the fourth quarter. Cetera Trust Company N.A now owns 6,590 shares of the pharmaceutical company’s stock worth $223,000 after purchasing an additional 485 shares in the last quarter. Ballentine Partners LLC increased its holdings in GSK by 40.7% during the 4th quarter. Ballentine Partners LLC now owns 17,150 shares of the pharmaceutical company’s stock worth $580,000 after purchasing an additional 4,959 shares during the period. FLC Capital Advisors bought a new stake in GSK during the 4th quarter valued at $279,000. Finally, M.E. Allison & CO. Inc. purchased a new stake in shares of GSK in the 4th quarter worth $314,000. 15.74% of the stock is currently owned by institutional investors.

GSK Stock Up 1.9 %

Shares of GSK stock opened at $34.08 on Friday. GSK plc has a 52-week low of $31.72 and a 52-week high of $45.92. The firm’s 50 day moving average price is $33.89 and its 200-day moving average price is $37.87. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. The company has a market cap of $70.63 billion, a P/E ratio of 22.13, a PEG ratio of 1.32 and a beta of 0.63.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Friday, November 15th were issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Friday, November 15th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is currently 96.10%.

Wall Street Analyst Weigh In

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