Envestnet Asset Management Inc. Purchases 136,932 Shares of GSK plc (NYSE:GSK)

Envestnet Asset Management Inc. raised its position in shares of GSK plc (NYSE:GSKGet Rating) by 26.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 654,223 shares of the pharmaceutical company’s stock after acquiring an additional 136,932 shares during the period. Envestnet Asset Management Inc.’s holdings in GSK were worth $28,498,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GSK. Allspring Global Investments Holdings LLC bought a new stake in shares of GSK during the fourth quarter worth approximately $476,000. Yousif Capital Management LLC bought a new stake in shares of GSK in the fourth quarter valued at approximately $1,719,000. NewEdge Wealth LLC bought a new stake in shares of GSK in the fourth quarter valued at approximately $251,000. Riverwater Partners LLC bought a new stake in shares of GSK in the fourth quarter valued at approximately $353,000. Finally, CWM LLC bought a new stake in shares of GSK in the fourth quarter valued at approximately $8,853,000. Institutional investors own 32.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on GSK from GBX 1,740 ($21.32) to GBX 1,900 ($23.28) in a research note on Thursday, April 28th. UBS Group cut their price target on GSK from GBX 1,876 ($22.99) to GBX 1,850 ($22.67) in a research note on Wednesday, July 20th. Credit Suisse Group boosted their price target on GSK from GBX 1,400 ($17.15) to GBX 1,600 ($19.61) in a research note on Friday, July 15th. Barclays upped their target price on GSK from GBX 1,775 ($21.75) to GBX 1,800 ($22.06) in a research note on Friday, April 29th. Finally, AlphaValue cut GSK to a “reduce” rating in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $1,787.50.

GSK Stock Down 1.3 %

Shares of NYSE:GSK opened at $41.63 on Tuesday. The company has a fifty day moving average of $42.88 and a 200-day moving average of $43.60. The company has a market capitalization of $84.65 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 1.51 and a beta of 0.46. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.31 and a current ratio of 1.43. GSK plc has a 52-week low of $37.80 and a 52-week high of $46.97.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.383 per share. The ex-dividend date of this dividend is Thursday, August 18th. This is an increase from GSK’s previous quarterly dividend of $0.35. This represents a $1.53 annualized dividend and a dividend yield of 3.68%. GSK’s dividend payout ratio is 55.30%.

GSK Profile

(Get Rating)

GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

See Also

Institutional Ownership by Quarter for GSK (NYSE:GSK)

Want More Great Investing Ideas?

Receive News & Ratings for GSK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GSK and related companies with MarketBeat.com's FREE daily email newsletter.