Douglas Lane & Associates LLC Has $58.94 Million Holdings in GSK plc (NYSE:GSK)

Douglas Lane & Associates LLC lowered its position in shares of GSK plc (NYSE:GSK - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,521,526 shares of the pharmaceutical company's stock after selling 106,978 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.07% of GSK worth $58,944,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GSK. Strategic Financial Concepts LLC bought a new position in shares of GSK in the fourth quarter valued at approximately $4,033,000. Stockman Wealth Management Inc. grew its holdings in shares of GSK by 3.7% during the fourth quarter. Stockman Wealth Management Inc. now owns 217,200 shares of the pharmaceutical company's stock worth $7,346,000 after purchasing an additional 7,683 shares during the last quarter. MADDEN SECURITIES Corp acquired a new stake in shares of GSK in the fourth quarter valued at $2,957,000. Columbia Asset Management bought a new position in shares of GSK in the fourth quarter valued at about $233,000. Finally, Van ECK Associates Corp lifted its position in GSK by 14.6% during the 4th quarter. Van ECK Associates Corp now owns 844,039 shares of the pharmaceutical company's stock worth $28,545,000 after buying an additional 107,529 shares in the last quarter. 15.74% of the stock is owned by institutional investors.

GSK Stock Up 0.5%

Shares of GSK traded up $0.21 on Thursday, hitting $41.01. The company's stock had a trading volume of 2,153,191 shares, compared to its average volume of 5,238,235. The firm's fifty day moving average price is $37.48 and its 200-day moving average price is $36.28. GSK plc has a fifty-two week low of $31.72 and a fifty-two week high of $44.67. The company has a quick ratio of 0.52, a current ratio of 0.78 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $84.61 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.12 and a beta of 0.51.

GSK (NYSE:GSK - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The firm's revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts expect that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, May 16th will be issued a $0.4216 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.11%. This is a positive change from GSK's previous quarterly dividend of $0.39. The ex-dividend date is Friday, May 16th. GSK's payout ratio is 86.60%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GSK shares. BNP Paribas started coverage on shares of GSK in a report on Tuesday, April 15th. They issued a "neutral" rating and a $35.25 price target for the company. Wall Street Zen lowered GSK from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Hsbc Global Res upgraded GSK to a "strong sell" rating in a research report on Monday, April 28th. Morgan Stanley assumed coverage on GSK in a report on Wednesday, February 12th. They issued an "equal weight" rating for the company. Finally, Berenberg Bank restated a "hold" rating on shares of GSK in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, GSK has an average rating of "Hold" and a consensus price target of $37.38.

About GSK

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.