Clark Capital Management Group Inc. Sells 623,938 Shares of GSK plc (NYSE:GSK)

Clark Capital Management Group Inc. decreased its stake in shares of GSK plc (NYSE:GSK - Free Report) by 48.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 657,451 shares of the pharmaceutical company's stock after selling 623,938 shares during the period. Clark Capital Management Group Inc.'s holdings in GSK were worth $22,235,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Crestline Management LP bought a new stake in shares of GSK in the fourth quarter valued at approximately $1,047,000. Bridgefront Capital LLC raised its position in shares of GSK by 73.1% in the 4th quarter. Bridgefront Capital LLC now owns 16,665 shares of the pharmaceutical company's stock valued at $564,000 after buying an additional 7,037 shares in the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of GSK in the 4th quarter valued at approximately $228,000. Bayesian Capital Management LP acquired a new position in shares of GSK in the 4th quarter valued at approximately $475,000. Finally, Beverly Hills Private Wealth LLC raised its position in shares of GSK by 94.6% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 29,397 shares of the pharmaceutical company's stock valued at $994,000 after buying an additional 14,288 shares in the last quarter. Institutional investors own 15.74% of the company's stock.

GSK Price Performance

Shares of NYSE:GSK traded down $0.24 during trading on Friday, hitting $36.63. 3,511,468 shares of the company were exchanged, compared to its average volume of 4,786,523. The business's 50 day moving average is $37.65 and its 200-day moving average is $35.97. The company has a market capitalization of $75.58 billion, a P/E ratio of 23.04, a price-to-earnings-growth ratio of 1.12 and a beta of 0.51. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 1.12. GSK plc has a 1-year low of $31.72 and a 1-year high of $45.93.

GSK (NYSE:GSK - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. GSK had a net margin of 8.13% and a return on equity of 48.59%. The firm had revenue of $10.06 billion during the quarter, compared to analysts' expectations of $7.52 billion. During the same period in the prior year, the company posted $0.43 EPS. The company's revenue was up 2.1% on a year-over-year basis. Equities analysts forecast that GSK plc will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, May 16th will be paid a $0.4216 dividend. This is a positive change from GSK's previous quarterly dividend of $0.39. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, May 16th. GSK's dividend payout ratio is currently 86.60%.

Analysts Set New Price Targets

Several brokerages have recently commented on GSK. BNP Paribas began coverage on shares of GSK in a research report on Tuesday, April 15th. They issued a "neutral" rating and a $35.25 target price for the company. StockNews.com upgraded shares of GSK from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 24th. Hsbc Global Res upgraded shares of GSK to a "strong sell" rating in a research report on Monday, April 28th. Finally, Morgan Stanley began coverage on shares of GSK in a research report on Wednesday, February 12th. They issued an "equal weight" rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $40.58.

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.