Grimes & Company Inc. Makes New $4.73 Million Investment in GSK plc (NYSE:GSK)

Grimes & Company Inc. bought a new position in shares of GSK plc (NYSE:GSK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 139,875 shares of the pharmaceutical company's stock, valued at approximately $4,731,000.

Several other institutional investors and hedge funds have also bought and sold shares of GSK. Eastern Bank purchased a new position in shares of GSK during the third quarter worth about $26,000. ST Germain D J Co. Inc. grew its stake in GSK by 195.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 522 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company's stock worth $29,000 after buying an additional 302 shares during the last quarter. Concord Wealth Partners raised its position in shares of GSK by 231.8% during the 3rd quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company's stock valued at $32,000 after buying an additional 547 shares in the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of GSK during the 3rd quarter worth $42,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GSK shares. Jefferies Financial Group cut GSK from a "buy" rating to a "hold" rating and reduced their target price for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Guggenheim lowered GSK from a "buy" rating to a "neutral" rating in a research report on Thursday, October 31st. StockNews.com cut GSK from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered GSK from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $43.25.

GSK Trading Up 0.7 %

GSK stock traded up $0.24 during trading on Friday, hitting $34.29. 3,165,883 shares of the company traded hands, compared to its average volume of 3,115,662. The company has a 50-day moving average of $33.91 and a 200-day moving average of $37.81. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.53 and a current ratio of 0.81. GSK plc has a 1 year low of $31.72 and a 1 year high of $45.92. The firm has a market capitalization of $71.06 billion, a PE ratio of 22.26, a P/E/G ratio of 1.31 and a beta of 0.63.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Friday, November 15th were issued a $0.3928 dividend. This represents a $1.57 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date was Friday, November 15th. This is a positive change from GSK's previous quarterly dividend of $0.38. GSK's dividend payout ratio (DPR) is 95.45%.

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.