Tang Capital Management LLC Has $13.53 Million Stock Position in GSK plc (NYSE:GSK)

Tang Capital Management LLC reduced its stake in shares of GSK plc (NYSE:GSK - Free Report) by 11.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the pharmaceutical company's stock after selling 50,000 shares during the period. GSK accounts for approximately 0.9% of Tang Capital Management LLC's portfolio, making the stock its 29th biggest holding. Tang Capital Management LLC's holdings in GSK were worth $13,528,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Grimes & Company Inc. acquired a new stake in GSK in the 4th quarter valued at approximately $4,731,000. Strategic Financial Concepts LLC acquired a new stake in GSK in the 4th quarter valued at approximately $4,033,000. Kempner Capital Management Inc. grew its holdings in GSK by 142.7% in the 4th quarter. Kempner Capital Management Inc. now owns 183,080 shares of the pharmaceutical company's stock valued at $6,192,000 after buying an additional 107,648 shares during the last quarter. Stockman Wealth Management Inc. increased its stake in GSK by 3.7% during the fourth quarter. Stockman Wealth Management Inc. now owns 217,200 shares of the pharmaceutical company's stock valued at $7,346,000 after acquiring an additional 7,683 shares during the period. Finally, MADDEN SECURITIES Corp bought a new position in GSK during the fourth quarter valued at about $2,957,000. 15.74% of the stock is currently owned by institutional investors.

GSK Price Performance

Shares of GSK stock traded up $0.42 during midday trading on Tuesday, hitting $38.38. 2,749,155 shares of the company were exchanged, compared to its average volume of 4,837,767. The firm has a market cap of $79.19 billion, a P/E ratio of 24.14, a PEG ratio of 1.12 and a beta of 0.51. 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 $45.80. The firm has a 50 day simple moving average of $37.35 and a 200-day simple moving average of $35.98.

GSK (NYSE:GSK - Get Free Report) last announced its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The business 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 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 EPS. Research analysts forecast that GSK plc will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The firm also recently announced 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 is an increase from GSK's previous quarterly dividend of $0.39. This represents a $1.69 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Friday, May 16th. GSK's payout ratio is presently 86.60%.

Wall Street Analysts Forecast Growth

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

GSK Company 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.