GSK plc (NYSE:GSK) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its stake in shares of GSK plc (NYSE:GSK) by 36.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,612 shares of the pharmaceutical company’s stock after selling 3,758 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in GSK were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp grew its holdings in shares of GSK by 9.7% in the 3rd quarter. Stifel Financial Corp now owns 604,973 shares of the pharmaceutical company’s stock worth $24,731,000 after acquiring an additional 53,440 shares during the period. Grimes & Company Inc. purchased a new stake in GSK during the fourth quarter worth $4,731,000. Strategic Financial Concepts LLC purchased a new position in shares of GSK in the fourth quarter valued at $4,033,000. Kempner Capital Management Inc. raised its stake in shares of GSK by 142.7% during the 4th quarter. Kempner Capital Management Inc. now owns 183,080 shares of the pharmaceutical company’s stock worth $6,192,000 after buying an additional 107,648 shares during the last quarter. Finally, Stockman Wealth Management Inc. boosted its position in shares of GSK by 3.7% in the 4th quarter. Stockman Wealth Management Inc. now owns 217,200 shares of the pharmaceutical company’s stock worth $7,346,000 after buying an additional 7,683 shares in the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Stock Performance

Shares of NYSE GSK opened at $36.49 on Monday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. The company has a market cap of $75.53 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 1.12 and a beta of 0.56. The company has a 50-day simple moving average of $37.63 and a 200-day simple moving average of $36.51. GSK plc has a 12 month low of $31.72 and a 12 month high of $45.93.

GSK (NYSE:GSK) last issued its quarterly earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.15. GSK had a return on equity of 48.59% and a net margin of 8.13%. On average, equities analysts anticipate that GSK plc will post 4.14 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 10th. Investors of record on Friday, February 21st will be given a dividend of $0.3932 per share. The ex-dividend date of this dividend is Friday, February 21st. This is an increase from GSK’s previous quarterly dividend of $0.39. This represents a $1.57 annualized dividend and a yield of 4.31%. GSK’s dividend payout ratio is 98.74%.

Analysts Set New Price Targets

Several equities analysts have weighed in on GSK shares. Morgan Stanley began coverage on shares of GSK in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. StockNews.com upgraded GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.25.

About GSK

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.