Stockman Wealth Management Inc. Acquires 40,001 Shares of GSK plc (NYSE:GSK)

Stockman Wealth Management Inc. lifted its stake in GSK plc (NYSE:GSK - Free Report) by 18.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 257,201 shares of the pharmaceutical company's stock after purchasing an additional 40,001 shares during the period. GSK accounts for approximately 1.5% of Stockman Wealth Management Inc.'s holdings, making the stock its 29th largest holding. Stockman Wealth Management Inc.'s holdings in GSK were worth $9,964,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GSK. Strategic Financial Concepts LLC acquired a new position in shares of GSK in the 4th quarter valued at $4,033,000. Columbia Asset Management acquired a new stake in GSK during the 4th quarter worth $233,000. Savant Capital LLC lifted its holdings in GSK by 44.5% during the fourth quarter. Savant Capital LLC now owns 8,126 shares of the pharmaceutical company's stock worth $275,000 after acquiring an additional 2,504 shares in the last quarter. Brighton Jones LLC acquired a new position in GSK in the fourth quarter valued at about $528,000. Finally, Keating Investment Counselors Inc. acquired a new position in GSK in the fourth quarter valued at about $5,533,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on GSK shares. Hsbc Global Res upgraded GSK to a "strong sell" rating in a report on Monday, April 28th. Wall Street Zen cut shares of GSK from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Berenberg Bank reissued a "hold" rating on shares of GSK in a research report on Tuesday, June 3rd. Finally, BNP Paribas initiated coverage on shares of GSK in a research report on Tuesday, April 15th. They issued a "neutral" rating and a $35.25 price objective on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a strong buy rating to the company. According to MarketBeat, GSK has a consensus rating of "Hold" and a consensus price target of $37.38.

GSK Stock Down 0.9%

Shares of GSK traded down $0.36 during mid-day trading on Monday, hitting $40.50. 4,651,854 shares of the company's stock were exchanged, compared to its average volume of 4,875,419. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. GSK plc has a 52 week low of $31.72 and a 52 week high of $44.67. The company has a market cap of $83.00 billion, a PE ratio of 25.47, a P/E/G ratio of 1.12 and a beta of 0.52. The company has a 50-day simple moving average of $38.09 and a 200 day simple moving average of $36.68.

GSK (NYSE:GSK - Get Free Report) last released its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.05. GSK had a net margin of 8.13% and a return on equity of 48.59%. The business had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts forecast that GSK plc will post 4.14 earnings per share for the current fiscal 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 issued a dividend of $0.4216 per share. This represents a $1.69 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Friday, May 16th. This is a positive change from GSK's previous quarterly dividend of $0.39. GSK's dividend payout ratio is presently 86.60%.

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.