Founders Financial Securities LLC Grows Position in GSK plc (NYSE:GSK)

Founders Financial Securities LLC raised its stake in shares of GSK plc (NYSE:GSK) by 3.1% in the second quarter, Holdings Channel reports. The institutional investor owned 17,760 shares of the pharmaceutical company’s stock after buying an additional 542 shares during the quarter. Founders Financial Securities LLC’s holdings in GSK were worth $684,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in GSK. Naviter Wealth LLC increased its holdings in shares of GSK by 8.5% in the 2nd quarter. Naviter Wealth LLC now owns 47,661 shares of the pharmaceutical company’s stock worth $1,852,000 after purchasing an additional 3,742 shares in the last quarter. Legacy Capital Wealth Partners LLC bought a new stake in shares of GSK in the second quarter worth $753,000. TIAA Trust National Association grew its holdings in shares of GSK by 11.2% in the second quarter. TIAA Trust National Association now owns 7,824 shares of the pharmaceutical company’s stock worth $301,000 after acquiring an additional 788 shares during the period. PrairieView Partners LLC bought a new stake in shares of GSK in the second quarter worth $47,000. Finally, Natixis Advisors LLC grew its holdings in shares of GSK by 10.4% in the second quarter. Natixis Advisors LLC now owns 417,062 shares of the pharmaceutical company’s stock worth $16,057,000 after acquiring an additional 39,346 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Price Performance

NYSE GSK opened at $44.25 on Thursday. The business’s fifty day moving average is $40.34 and its 200 day moving average is $41.62. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The company has a market capitalization of $91.71 billion, a PE ratio of 16.03, a price-to-earnings-growth ratio of 1.42 and a beta of 0.64. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be given a $0.3843 dividend. This represents a $1.54 annualized dividend and a dividend yield of 3.47%. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. GSK’s payout ratio is presently 54.71%.

Analysts Set New Price Targets

Several brokerages recently commented on GSK. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $50.00.

GSK Profile

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.