GSK PLC Sponsored ADR $GSK Stock: Ethic Inc. Grows Stake

Ethic Inc. raised its stake in GSK PLC Sponsored ADR (NYSE:GSK) by 6.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 181,810 shares of the pharmaceutical company’s stock after buying an additional 10,617 shares during the period. Ethic Inc.’s holdings in GSK were worth $8,758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC bought a new position in GSK during the third quarter worth about $36,000. Security National Bank of SO Dak acquired a new position in shares of GSK during the 2nd quarter worth about $38,000. Trust Co. of Vermont bought a new stake in shares of GSK in the 2nd quarter valued at about $54,000. Provenance Wealth Advisors LLC increased its stake in shares of GSK by 378.8% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 1,149 shares of the pharmaceutical company’s stock valued at $55,000 after acquiring an additional 909 shares during the last quarter. Finally, Philadelphia Investment Partners LLC bought a new stake in shares of GSK in the 2nd quarter valued at about $70,000. Institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

GSK stock opened at $50.39 on Monday. The business’s 50-day moving average price is $49.27 and its two-hundred day moving average price is $52.36. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.18. The firm has a market cap of $101.93 billion, a PE ratio of 17.51, a P/E/G ratio of 2.26 and a beta of 0.28. GSK PLC Sponsored ADR has a 1-year low of $45.81 and a 1-year high of $61.69.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Friday, November 13th will be issued a $0.4518 dividend. This represents a $1.81 annualized dividend and a dividend yield of 3.6%. This is an increase from GSK’s previous quarterly dividend of $0.4515. The ex-dividend date is Friday, November 13th. GSK’s dividend payout ratio is currently 61.46%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Citigroup assumed coverage on shares of GSK in a research report on Friday, July 24th. They issued a “neutral” rating on the stock. Morgan Stanley restated an “underweight” rating on shares of GSK in a report on Tuesday, August 25th. Barclays restated a “sell” rating on shares of GSK in a report on Monday, September 7th. HSBC reaffirmed a “hold” rating on shares of GSK in a research note on Thursday, September 10th. Finally, Jefferies Financial Group lowered shares of GSK from a “buy” rating to a “hold” rating and cut their target price for the stock from $67.40 to $55.90 in a report on Thursday, October 29th. Three analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GSK presently has an average rating of “Hold” and a consensus target price of $56.30.

GSK Profile

GSK plc is a global biopharmaceutical company headquartered in the United Kingdom. It researches, develops and manufactures medicines and vaccines, with a focus on areas including infectious diseases, HIV, respiratory and immune conditions, and cancer.

Its products include vaccines such as Shingrix, which helps prevent shingles, and Arexvy, for respiratory syncytial virus (RSV). GSK also makes specialty medicines, including treatments for HIV and respiratory diseases, and continues to develop new medicines and vaccines through its research programs.

The company was formed in 2000 through the merger of Glaxo Wellcome and SmithKline Beecham, businesses with histories stretching back much further.