Envestnet Portfolio Solutions Inc. Sells 7,125 Shares of GSK plc (NYSE:GSK)

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of GSK plc (NYSE:GSK) by 13.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 45,017 shares of the pharmaceutical company’s stock after selling 7,125 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in GSK were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC raised its position in GSK by 2.5% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 11,506 shares of the pharmaceutical company’s stock worth $389,000 after purchasing an additional 278 shares in the last quarter. Sunbelt Securities Inc. boosted its stake in shares of GSK by 73.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in GSK by 6.3% during the 3rd quarter. Rehmann Capital Advisory Group now owns 5,608 shares of the pharmaceutical company’s stock valued at $232,000 after purchasing an additional 332 shares during the last quarter. GC Wealth Management RIA LLC boosted its position in GSK by 2.6% in the fourth quarter. GC Wealth Management RIA LLC now owns 14,009 shares of the pharmaceutical company’s stock valued at $474,000 after buying an additional 353 shares in the last quarter. Finally, Jacobi Capital Management LLC grew its stake in GSK by 3.9% during the fourth quarter. Jacobi Capital Management LLC now owns 10,403 shares of the pharmaceutical company’s stock worth $352,000 after buying an additional 389 shares during the last quarter. 15.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GSK shares. Morgan Stanley started coverage on GSK in a report on Wednesday, February 12th. They set an “equal weight” rating for the company. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a report on Friday, February 7th. Seven equities research analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $43.25.

GSK Stock Down 0.5 %

NYSE GSK opened at $39.22 on Friday. GSK plc has a 52 week low of $31.72 and a 52 week high of $45.93. The stock has a fifty day moving average of $36.66 and a 200-day moving average of $36.97. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.52 and a current ratio of 0.78. The stock has a market capitalization of $81.18 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.12 and a beta of 0.58.

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

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, February 21st will be paid a $0.3932 dividend. This is a boost from GSK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, February 21st. This represents a $1.57 annualized dividend and a yield of 4.01%. GSK’s payout ratio is presently 98.74%.

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.