Fulton Bank N.A. grew its holdings in shares of GSK plc (NYSE:GSK – Get Rating) by 15.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,507 shares of the pharmaceutical company’s stock after acquiring an additional 1,663 shares during the period. Fulton Bank N.A.’s holdings in GSK were worth $544,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. Tyler Stone Wealth Management bought a new position in shares of GSK during the fourth quarter worth about $26,000. Tsfg LLC lifted its position in shares of GSK by 67.9% during the first quarter. Tsfg LLC now owns 618 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 250 shares during the last quarter. Glassman Wealth Services lifted its position in shares of GSK by 71.3% during the fourth quarter. Glassman Wealth Services now owns 627 shares of the pharmaceutical company’s stock worth $28,000 after purchasing an additional 261 shares during the last quarter. Toth Financial Advisory Corp bought a new position in shares of GSK during the first quarter worth about $30,000. Finally, Hardy Reed LLC bought a new position in shares of GSK during the first quarter worth about $35,000. 16.86% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently commented on GSK. StockNews.com cut shares of GSK from a “strong-buy” rating to a “buy” rating in a research report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of GSK from GBX 1,750 ($21.15) to GBX 1,500 ($18.12) in a research report on Wednesday, September 7th. Citigroup reissued a “neutral” rating on shares of GSK in a report on Thursday, July 21st. TheStreet cut shares of GSK from a “b” rating to a “c+” rating in a report on Monday, August 29th. Finally, Morgan Stanley cut their target price on shares of GSK from GBX 1,860 ($22.47) to GBX 1,550 ($18.73) in a report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, GSK presently has an average rating of “Hold” and a consensus price target of $1,700.00.
GSK Price Performance
GSK Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, August 19th will be paid a $0.383 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.53 annualized dividend and a dividend yield of 4.97%. This is a positive change from GSK’s previous quarterly dividend of $0.35. GSK’s dividend payout ratio (DPR) is presently 50.66%.
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.
- Get a free copy of the StockNews.com research report on GSK (GSK)
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