GSK plc (NYSE:GSK) Shares Purchased by Provident Trust Co.

Provident Trust Co. boosted its holdings in shares of GSK plc (NYSE:GSK) by 53.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,716,830 shares of the pharmaceutical company’s stock after acquiring an additional 1,297,385 shares during the period. GSK comprises 2.8% of Provident Trust Co.’s portfolio, making the stock its 16th largest holding. Provident Trust Co. owned approximately 0.18% of GSK worth $137,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in shares of GSK by 2,816.7% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 676 shares during the last quarter. Larson Financial Group LLC grew its holdings in GSK by 271.8% in the third quarter. Larson Financial Group LLC now owns 885 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 647 shares during the period. BKM Wealth Management LLC purchased a new stake in GSK in the fourth quarter valued at approximately $32,000. Jones Financial Companies Lllp grew its holdings in GSK by 62.2% in the third quarter. Jones Financial Companies Lllp now owns 1,327 shares of the pharmaceutical company’s stock valued at $48,000 after purchasing an additional 509 shares during the period. Finally, Princeton Global Asset Management LLC grew its holdings in GSK by 54.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,515 shares of the pharmaceutical company’s stock valued at $56,000 after purchasing an additional 533 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GSK shares. Citigroup upgraded shares of GSK from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. Jefferies Financial Group raised shares of GSK from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Guggenheim raised shares of GSK from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. Finally, Morgan Stanley initiated coverage on shares of GSK in a research report on Tuesday, January 23rd. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GSK presently has a consensus rating of “Moderate Buy”.

GSK Stock Performance

Shares of GSK stock traded up $0.20 during trading on Friday, hitting $41.11. 2,730,464 shares of the stock were exchanged, compared to its average volume of 2,904,690. The stock’s fifty day moving average is $41.83 and its 200 day moving average is $38.95. The stock has a market cap of $85.20 billion, a PE ratio of 13.66, a P/E/G ratio of 1.44 and a beta of 0.64. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.88. GSK plc has a 12 month low of $33.33 and a 12 month high of $43.84.

GSK (NYSE:GSK) last released its quarterly earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.04). The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.79 billion. GSK had a return on equity of 51.45% and a net margin of 16.24%. As a group, sell-side analysts anticipate that GSK plc will post 4.03 EPS for the current year.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, February 23rd were given a dividend of $0.3564 per share. The ex-dividend date was Thursday, February 22nd. This represents a $1.43 annualized dividend and a dividend yield of 3.47%. This is a positive change from GSK’s previous quarterly dividend of $0.34. GSK’s dividend payout ratio is currently 52.82%.

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.