Envestnet Asset Management Inc. grew its position in GSK plc (NYSE:GSK – Free Report) by 64.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,625,585 shares of the pharmaceutical company’s stock after buying an additional 638,544 shares during the quarter. Envestnet Asset Management Inc. owned 0.08% of GSK worth $58,927,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of GSK by 4.3% in the second quarter. Fisher Asset Management LLC now owns 13,824,592 shares of the pharmaceutical company’s stock valued at $492,994,000 after buying an additional 571,088 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of GSK by 5.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,292,913 shares of the pharmaceutical company’s stock valued at $437,383,000 after buying an additional 673,419 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of GSK by 32.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 9,621,370 shares of the pharmaceutical company’s stock valued at $419,107,000 after buying an additional 2,362,274 shares in the last quarter. Royal Bank of Canada increased its position in shares of GSK by 255.5% in the second quarter. Royal Bank of Canada now owns 7,690,026 shares of the pharmaceutical company’s stock valued at $274,071,000 after buying an additional 5,526,736 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of GSK by 48.3% in the first quarter. Goldman Sachs Group Inc. now owns 7,113,039 shares of the pharmaceutical company’s stock valued at $309,844,000 after buying an additional 2,316,204 shares in the last quarter. Hedge funds and other institutional investors own 13.53% of the company’s stock.
GSK Stock Down 0.2 %
Shares of NYSE:GSK opened at $41.94 on Thursday. The stock’s 50-day moving average price is $39.37 and its two-hundred day moving average price is $37.03. The company has a current ratio of 0.95, a quick ratio of 0.70 and a debt-to-equity ratio of 1.27. GSK plc has a 12-month low of $33.20 and a 12-month high of $42.61. The firm has a market cap of $86.33 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.89 and a beta of 0.64.
GSK Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, February 23rd will be paid a $0.3564 dividend. This represents a $1.43 dividend on an annualized basis and a yield of 3.40%. This is a positive change from GSK’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, February 22nd. GSK’s dividend payout ratio (DPR) is presently 52.82%.
Analyst Upgrades and Downgrades
A number of analysts recently commented on the company. Morgan Stanley assumed coverage on GSK in a research note on Tuesday, January 23rd. They set an “equal weight” rating on the stock. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 1st. Jefferies Financial Group raised GSK from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Citigroup raised GSK from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.
GSK Company Profile
GSK plc, together with its subsidiaries, engages in the research, development and manufacture of vaccines and specialty medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.