Van ECK Associates Corp Reduces Holdings in GSK plc (NYSE:GSK)

Van ECK Associates Corp lowered its stake in GSK plc (NYSE:GSK - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 529,588 shares of the pharmaceutical company's stock after selling 56,593 shares during the period. Van ECK Associates Corp's holdings in GSK were worth $19,627,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc boosted its stake in GSK by 2,816.7% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the pharmaceutical company's stock worth $26,000 after purchasing an additional 676 shares during the period. BKM Wealth Management LLC bought a new stake in GSK in the 4th quarter valued at approximately $32,000. Larson Financial Group LLC boosted its position in GSK by 271.8% during the 3rd quarter. Larson Financial Group LLC now owns 885 shares of the pharmaceutical company's stock worth $32,000 after acquiring an additional 647 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of GSK by 62.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,327 shares of the pharmaceutical company's stock worth $48,000 after acquiring an additional 509 shares in the last quarter. Finally, Princeton Global Asset Management LLC raised its holdings in shares of GSK by 54.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,515 shares of the pharmaceutical company's stock valued at $56,000 after purchasing an additional 533 shares during the last quarter. Institutional investors own 15.74% of the company's stock.

Analyst Upgrades and Downgrades

GSK has been the subject of several recent research reports. Citigroup upgraded shares of GSK from a "neutral" rating to a "buy" rating in a report on Tuesday, February 13th. Jefferies Financial Group raised shares of GSK from a "hold" rating to a "buy" rating in a report on Wednesday, January 3rd. Morgan Stanley initiated coverage on GSK in a report on Tuesday, January 23rd. They set an "equal weight" rating for the company. Finally, Guggenheim upgraded GSK from a "neutral" rating to a "buy" rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy".

GSK Stock Performance

Shares of GSK traded up $0.78 during mid-day trading on Thursday, hitting $43.35. 5,943,638 shares of the company's stock were exchanged, compared to its average volume of 3,500,082. The company has a quick ratio of 0.62, a current ratio of 0.88 and a debt-to-equity ratio of 1.19. GSK plc has a 52 week low of $33.33 and a 52 week high of $43.84. The stock's 50-day simple moving average is $41.82 and its 200-day simple moving average is $39.06. The firm has a market cap of $89.84 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.46 and a beta of 0.65.

GSK (NYSE:GSK - Get Free Report) last posted its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.72 EPS for the quarter, missing analysts' consensus estimates of $0.76 by ($0.04). The company had revenue of $10 billion for the quarter, compared to the consensus estimate of $9.79 billion. GSK had a return on equity of 51.45% and a net margin of 16.24%. On average, equities research analysts expect that GSK plc will post 4.03 EPS for the current year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Friday, May 17th will be given a $0.3762 dividend. The ex-dividend date is Thursday, May 16th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.47%. This is a boost from GSK's previous quarterly dividend of $0.36. GSK's dividend payout ratio (DPR) is presently 52.82%.

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.