Sunbelt Securities Inc. Makes New Investment in GSK plc (NYSE:GSK)

Sunbelt Securities Inc. acquired a new stake in shares of GSK plc (NYSE:GSK – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 12,058 shares of the pharmaceutical company’s stock, valued at approximately $355,000.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC lifted its holdings in GSK by 4.1% during the second quarter. FMR LLC now owns 17,601,698 shares of the pharmaceutical company’s stock valued at $766,202,000 after purchasing an additional 686,260 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in GSK by 32.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 9,621,370 shares of the pharmaceutical company’s stock worth $419,107,000 after buying an additional 2,362,274 shares during the period. Goldman Sachs Group Inc. boosted its holdings in GSK by 14.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 8,136,345 shares of the pharmaceutical company’s stock worth $354,175,000 after buying an additional 1,023,306 shares during the period. Two Sigma Investments LP raised its holdings in GSK by 351.5% during the third quarter. Two Sigma Investments LP now owns 7,137,574 shares of the pharmaceutical company’s stock valued at $210,059,000 after acquiring an additional 5,556,832 shares during the period. Finally, Two Sigma Advisers LP raised its stake in GSK by 1,007.7% during the 3rd quarter. Two Sigma Advisers LP now owns 4,511,412 shares of the pharmaceutical company’s stock valued at $132,771,000 after purchasing an additional 4,104,146 shares during the period. 13.15% of the stock is currently owned by institutional investors.

GSK Price Performance

NYSE:GSK opened at $34.07 on Friday. The firm has a market capitalization of $69.74 billion, a price-to-earnings ratio of 3.97, a PEG ratio of 1.69 and a beta of 0.65. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.91 and a quick ratio of 0.68. The business has a 50 day simple moving average of $35.00 and a 200-day simple moving average of $33.56. GSK plc has a 1 year low of $28.47 and a 1 year high of $46.97.

GSK Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 13th. Investors of record on Friday, February 24th will be given a $0.3404 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 4.00%. GSK’s dividend payout ratio is presently 15.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GSK shares. Deutsche Bank Aktiengesellschaft upgraded shares of GSK from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley cut their price objective on GSK from GBX 1,650 ($20.11) to GBX 1,535 ($18.71) in a research report on Wednesday, November 30th. The Goldman Sachs Group initiated coverage on GSK in a research report on Sunday, February 26th. They issued a “buy” rating on the stock. StockNews.com began coverage on GSK in a report on Thursday. They set a “buy” rating for the company. Finally, AlphaValue raised GSK to a “buy” rating in a report on Thursday, December 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,576.88.

GSK Profile

(Get Rating)

GSK Plc is a healthcare company, which engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. It operates through the following segments: Pharmaceuticals; Pharmaceuticals R&D; Vaccines and Consumer Healthcare. The Pharmaceuticals segment focuses on developing medicines in respiratory and infectious diseases, oncology, and immuno-inflammation.