Princeton Global Asset Management LLC Trims Stock Holdings in GSK plc (NYSE:GSK)

Princeton Global Asset Management LLC trimmed its holdings in GSK plc (NYSE:GSK) by 39.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 822 shares of the pharmaceutical company’s stock after selling 533 shares during the quarter. Princeton Global Asset Management LLC’s holdings in GSK were worth $32,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GSK. Brighton Jones LLC purchased a new stake in shares of GSK in the fourth quarter worth approximately $528,000. Spire Wealth Management purchased a new stake in shares of GSK in the fourth quarter worth approximately $77,000. Strategic Financial Concepts LLC purchased a new stake in shares of GSK in the fourth quarter worth approximately $4,033,000. Golden State Wealth Management LLC purchased a new stake in shares of GSK in the fourth quarter worth approximately $38,000. Finally, Apollon Wealth Management LLC raised its holdings in shares of GSK by 9.8% in the fourth quarter. Apollon Wealth Management LLC now owns 18,279 shares of the pharmaceutical company’s stock worth $618,000 after buying an additional 1,634 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Hsbc Global Res raised GSK to a “strong sell” rating in a research note on Monday, April 28th. Berenberg Bank reissued a “hold” rating on shares of GSK in a research note on Tuesday, June 3rd. BNP Paribas assumed coverage on GSK in a research note on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 price objective on the stock. Wall Street Zen cut GSK from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Morgan Stanley assumed coverage on GSK in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, GSK presently has an average rating of “Hold” and an average target price of $37.38.

GSK Price Performance

Shares of GSK stock opened at $41.22 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 1.12. GSK plc has a twelve month low of $31.72 and a twelve month high of $44.67. The business has a 50-day moving average price of $37.59 and a 200 day moving average price of $36.41. The firm has a market cap of $84.48 billion, a PE ratio of 25.92, a P/E/G ratio of 1.12 and a beta of 0.52.

GSK (NYSE:GSK) last posted its quarterly earnings data on Wednesday, April 30th. The pharmaceutical company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The company had revenue of $10.06 billion during the quarter, compared to analyst estimates of $7.52 billion. GSK had a return on equity of 48.59% and a net margin of 8.13%. GSK’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. Sell-side analysts predict that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, May 16th will be issued a $0.4216 dividend. The ex-dividend date is Friday, May 16th. This is a boost from GSK’s previous quarterly dividend of $0.39. This represents a $1.69 dividend on an annualized basis and a yield of 4.09%. GSK’s dividend payout ratio is currently 86.60%.

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.