Cresset Asset Management LLC Trims Stake in GSK plc (NYSE:GSK)

Cresset Asset Management LLC reduced its stake in shares of GSK plc (NYSE:GSK) by 66.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,692 shares of the pharmaceutical company’s stock after selling 41,175 shares during the quarter. Cresset Asset Management LLC’s holdings in GSK were worth $707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Indiana Trust & Investment Management Co increased its position in shares of GSK by 200.0% in the fourth quarter. Indiana Trust & Investment Management Co now owns 750 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 500 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of GSK in the fourth quarter valued at approximately $26,000. Sierra Ocean LLC purchased a new stake in shares of GSK in the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust increased its position in shares of GSK by 470.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 992 shares of the pharmaceutical company’s stock valued at $34,000 after buying an additional 818 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of GSK in the fourth quarter valued at approximately $40,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GSK has been the subject of a number of recent analyst reports. Morgan Stanley initiated coverage on GSK in a research report on Wednesday, February 12th. They issued an “equal weight” rating for the company. BNP Paribas initiated coverage on GSK in a research report on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 price objective for the company. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 24th. Finally, Hsbc Global Res raised GSK to a “strong sell” rating in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a strong buy rating to the company. According to MarketBeat.com, GSK has a consensus rating of “Moderate Buy” and a consensus target price of $40.58.

GSK Stock Performance

Shares of NYSE:GSK opened at $36.36 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. The business’s 50 day moving average price is $37.56 and its 200-day moving average price is $35.97. The firm has a market capitalization of $75.02 billion, a PE ratio of 22.87, a P/E/G ratio of 1.12 and a beta of 0.51. GSK plc has a 1 year low of $31.72 and a 1 year high of $45.93.

GSK (NYSE:GSK) last released its quarterly earnings data on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $10.06 billion for the quarter, compared to analyst estimates of $7.52 billion. GSK had a return on equity of 48.59% and a net margin of 8.13%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 earnings per share. As a group, equities research analysts expect that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.4216 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $1.69 dividend on an annualized basis and a yield of 4.64%. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s payout ratio is 86.60%.

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.