GSK plc (NYSE:GSK) Shares Sold by Hilltop National Bank

Hilltop National Bank lowered its holdings in GSK plc (NYSE:GSK) by 84.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,373 shares of the pharmaceutical company’s stock after selling 12,638 shares during the quarter. Hilltop National Bank’s holdings in GSK were worth $91,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GSK. JTC Employer Solutions Trustee Ltd boosted its position in GSK by 71.3% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock valued at $909,063,000 after buying an additional 8,800,822 shares during the period. Fisher Asset Management LLC increased its stake in GSK by 10.8% in the fourth quarter. Fisher Asset Management LLC now owns 15,065,558 shares of the pharmaceutical company’s stock valued at $558,330,000 after purchasing an additional 1,465,165 shares during the last quarter. Primecap Management Co. CA grew its position in shares of GSK by 0.3% in the 4th quarter. Primecap Management Co. CA now owns 12,089,370 shares of the pharmaceutical company’s stock valued at $448,032,000 after buying an additional 30,600 shares during the last quarter. Mondrian Investment Partners LTD grew its holdings in shares of GSK by 37.8% during the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after purchasing an additional 1,512,442 shares during the last quarter. Finally, Provident Trust Co. boosted its position in shares of GSK by 53.6% in the 4th quarter. Provident Trust Co. now owns 3,716,830 shares of the pharmaceutical company’s stock valued at $137,746,000 after purchasing an additional 1,297,385 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. The Goldman Sachs Group started coverage on GSK in a research note on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price target on the stock. Citigroup upgraded GSK to a “strong-buy” rating in a research report on Monday, June 24th. Finally, Jefferies Financial Group boosted their price target on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, GSK has an average rating of “Buy” and an average price target of $50.00.

GSK Price Performance

GSK stock traded up $0.69 during midday trading on Wednesday, reaching $39.37. 5,190,702 shares of the company were exchanged, compared to its average volume of 3,581,730. The company has a market capitalization of $81.59 billion, a price-to-earnings ratio of 14.28, a P/E/G ratio of 1.32 and a beta of 0.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.58 and a current ratio of 0.82. The firm’s 50-day simple moving average is $40.03 and its 200-day simple moving average is $41.41. GSK plc has a 1 year low of $33.67 and a 1 year high of $45.92.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.3843 per share. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 3.90%. 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.