Sanibel Captiva Trust Company Inc. Cuts Position in GSK plc (NYSE:GSK)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of GSK plc (NYSE:GSK) by 13.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,736 shares of the pharmaceutical company’s stock after selling 1,897 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in GSK were worth $493,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GSK. Indiana Trust & Investment Management Co raised its holdings in shares of GSK by 200.0% during the 4th quarter. Indiana Trust & Investment Management Co now owns 750 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 500 shares during the period. Sierra Ocean LLC purchased a new stake in GSK during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its holdings in GSK by 470.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 992 shares of the pharmaceutical company’s stock worth $34,000 after purchasing an additional 818 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in GSK during the 4th quarter worth approximately $38,000. Finally, Lee Danner & Bass Inc. purchased a new stake in GSK during the 4th quarter worth approximately $39,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

GSK Price Performance

Shares of GSK opened at $41.59 on Thursday. The firm has a market cap of $85.23 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 1.12 and a beta of 0.52. The stock has a 50 day moving average of $37.81 and a 200-day moving average of $36.55. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12. GSK plc has a 52 week low of $31.72 and a 52 week high of $44.67.

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

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, May 16th will be given a dividend of $0.4216 per share. The ex-dividend date is Friday, May 16th. This represents a $1.69 dividend on an annualized basis and a yield of 4.06%. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s payout ratio is currently 86.60%.

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.