Douglas Lane & Associates LLC Sells 544,979 Shares of GSK plc (NYSE:GSK)

Douglas Lane & Associates LLC reduced its stake in GSK plc (NYSE:GSK) by 25.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,628,504 shares of the pharmaceutical company’s stock after selling 544,979 shares during the period. Douglas Lane & Associates LLC owned 0.08% of GSK worth $55,076,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in shares of GSK during the 2nd quarter worth about $129,000. Caprock Group LLC grew its holdings in GSK by 115.6% during the second quarter. Caprock Group LLC now owns 26,000 shares of the pharmaceutical company’s stock valued at $1,011,000 after purchasing an additional 13,943 shares during the period. PFG Investments LLC increased its stake in GSK by 3.5% in the second quarter. PFG Investments LLC now owns 15,273 shares of the pharmaceutical company’s stock valued at $588,000 after purchasing an additional 515 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in GSK in the second quarter worth $37,000. Finally, Choreo LLC boosted its position in shares of GSK by 759.4% during the second quarter. Choreo LLC now owns 52,157 shares of the pharmaceutical company’s stock worth $2,002,000 after purchasing an additional 46,088 shares in the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on GSK shares. StockNews.com cut shares of GSK from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Guggenheim lowered GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and dropped their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Down 0.6 %

GSK stock traded down $0.19 during midday trading on Wednesday, reaching $33.90. The stock had a trading volume of 1,448,735 shares, compared to its average volume of 2,534,150. The stock has a market capitalization of $70.26 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63. The firm’s fifty day simple moving average is $34.59 and its 200-day simple moving average is $38.30. 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 $32.83 and a 1-year high of $45.92.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Friday, November 15th will be issued a $0.3928 dividend. The ex-dividend date is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.63%. GSK’s dividend payout ratio (DPR) is 98.70%.

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.