Nuveen Asset Management LLC Cuts Holdings in GSK plc (NYSE:GSK)

Nuveen Asset Management LLC trimmed its holdings in shares of GSK plc (NYSE:GSK) by 14.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,293 shares of the pharmaceutical company’s stock after selling 7,310 shares during the period. Nuveen Asset Management LLC’s holdings in GSK were worth $1,430,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Letko Brosseau & Associates Inc. boosted its stake in GSK by 32.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,623,203 shares of the pharmaceutical company’s stock valued at $54,897,000 after purchasing an additional 398,433 shares during the last quarter. Logan Capital Management Inc. boosted its stake in GSK by 0.9% during the 4th quarter. Logan Capital Management Inc. now owns 84,663 shares of the pharmaceutical company’s stock valued at $2,863,000 after purchasing an additional 740 shares during the last quarter. Kahn Brothers Group Inc. purchased a new stake in GSK during the 4th quarter valued at $29,921,000. Hudson Bay Capital Management LP boosted its stake in GSK by 650.0% during the 4th quarter. Hudson Bay Capital Management LP now owns 75,000 shares of the pharmaceutical company’s stock valued at $2,536,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Focus Partners Wealth boosted its stake in GSK by 16.9% during the 4th quarter. Focus Partners Wealth now owns 40,931 shares of the pharmaceutical company’s stock valued at $1,497,000 after purchasing an additional 5,912 shares during the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on GSK shares. Hsbc Global Res upgraded GSK to a “strong sell” rating in a research note on Monday, April 28th. BNP Paribas assumed coverage on GSK in a research note on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 price target on the stock. Wall Street Zen downgraded GSK from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Berenberg Bank restated a “hold” rating on shares of GSK in a research note on Tuesday. Finally, Morgan Stanley assumed coverage on GSK in a research note on Wednesday, February 12th. They issued an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a strong buy rating to the company. According to MarketBeat, GSK presently has a consensus rating of “Hold” and a consensus price target of $37.38.

GSK Stock Performance

GSK stock opened at $40.46 on Wednesday. The company has a market cap of $83.48 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. GSK plc has a 1 year low of $31.72 and a 1 year high of $44.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. The stock’s fifty day moving average price is $37.44 and its 200-day moving average price is $36.25.

GSK (NYSE:GSK) last released its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $7.52 billion. GSK had a return on equity of 48.59% and a net margin of 8.13%. GSK’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. On average, equities analysts forecast that GSK plc will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, May 16th will be given a dividend of $0.4216 per share. The ex-dividend date of this dividend is Friday, May 16th. This is an increase from GSK’s previous quarterly dividend of $0.39. This represents a $1.69 annualized dividend and a yield of 4.17%. GSK’s payout ratio is 86.60%.

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.