The Manufacturers Life Insurance Company Increases Stock Holdings in GSK plc (NYSE:GSK)

The Manufacturers Life Insurance Company lifted its stake in shares of GSK plc (NYSE:GSKFree Report) by 4.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,031,667 shares of the pharmaceutical company’s stock after buying an additional 41,632 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in GSK were worth $38,234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of GSK. Versant Capital Management Inc lifted its position in 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 purchasing an additional 676 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of GSK in the 4th quarter valued at approximately $32,000. Jones Financial Companies Lllp boosted its stake in shares of 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 buying an additional 509 shares in the last quarter. Princeton Global Asset Management LLC grew its holdings in GSK by 54.3% during the fourth quarter. Princeton Global Asset Management LLC now owns 1,515 shares of the pharmaceutical company’s stock worth $56,000 after acquiring an additional 533 shares during the period. Finally, Armstrong Advisory Group Inc. raised its position in GSK by 189.1% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,619 shares of the pharmaceutical company’s stock worth $60,000 after acquiring an additional 1,059 shares in the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Trading Down 1.0 %

Shares of GSK stock opened at $41.54 on Friday. The stock has a market cap of $86.09 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.27 and a beta of 0.66. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.15. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The business has a fifty day simple moving average of $42.64 and a 200-day simple moving average of $40.66.

GSK (NYSE:GSKGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The pharmaceutical company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. The firm had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $8.98 billion. GSK had a net margin of 14.62% and a return on equity of 51.54%. On average, analysts forecast that GSK plc will post 4.11 earnings per share for the current fiscal year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be paid a dividend of $0.3762 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.62%. This is a boost from GSK’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, May 16th. GSK’s dividend payout ratio (DPR) is 53.26%.

Wall Street Analyst Weigh In

Several brokerages have commented on GSK. The Goldman Sachs Group assumed coverage on shares of GSK in a research report on Thursday, May 30th. They set a “neutral” rating and a $47.00 target price on the stock. Citigroup raised shares of GSK from a “neutral” rating to a “buy” rating in a report on Tuesday, February 13th. Finally, Guggenheim raised shares of GSK from a “neutral” rating to a “buy” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Get Our Latest Stock Analysis on GSK

About GSK

(Free Report)

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.

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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