Summit Financial LLC Buys 2,218 Shares of GSK plc (NYSE:GSK)

Summit Financial LLC increased its stake in shares of GSK plc (NYSE:GSK) by 45.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 7,128 shares of the pharmaceutical company’s stock after buying an additional 2,218 shares during the period. Summit Financial LLC’s holdings in GSK were worth $244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hoey Investments Inc. bought a new position in GSK during the 4th quarter worth $452,000. Wellington Management Group LLP increased its position in GSK by 10.0% during the fourth quarter. Wellington Management Group LLP now owns 2,094,105 shares of the pharmaceutical company’s stock worth $70,823,000 after acquiring an additional 190,047 shares during the period. United Bank raised its stake in GSK by 22.0% in the 4th quarter. United Bank now owns 31,449 shares of the pharmaceutical company’s stock worth $1,064,000 after purchasing an additional 5,664 shares in the last quarter. Level Four Advisory Services LLC boosted its holdings in GSK by 5.9% in the 4th quarter. Level Four Advisory Services LLC now owns 9,152 shares of the pharmaceutical company’s stock valued at $310,000 after purchasing an additional 511 shares during the period. Finally, Orion Portfolio Solutions LLC grew its position in shares of GSK by 20.5% during the 4th quarter. Orion Portfolio Solutions LLC now owns 21,087 shares of the pharmaceutical company’s stock worth $713,000 after purchasing an additional 3,581 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Morgan Stanley initiated coverage on GSK in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. StockNews.com upgraded GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.25.

GSK Stock Down 6.5 %

Shares of GSK opened at $36.49 on Friday. The firm has a 50 day simple moving average of $37.63 and a two-hundred day simple moving average of $36.59. 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 one year low of $31.72 and a one year high of $45.93. The company has a market cap of $75.53 billion, a P/E ratio of 22.95, a P/E/G ratio of 1.12 and a beta of 0.56.

GSK (NYSE:GSK) last announced its quarterly earnings data on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.15. GSK had a return on equity of 48.59% and a net margin of 8.13%. Research analysts forecast that GSK plc will post 4.14 EPS for the current fiscal year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, February 21st will be paid a $0.3932 dividend. This is an increase from GSK’s previous quarterly dividend of $0.39. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, February 21st. GSK’s dividend payout ratio (DPR) is presently 98.74%.

GSK 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.