GSK plc (NYSE:GSK) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its stake in shares of GSK plc (NYSE:GSK) by 36.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,612 shares of the pharmaceutical company’s stock after selling 3,758 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in GSK were worth $223,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Primecap Management Co. CA raised its stake in GSK by 70.1% during the 4th quarter. Primecap Management Co. CA now owns 25,261,660 shares of the pharmaceutical company’s stock worth $854,349,000 after acquiring an additional 10,407,905 shares in the last quarter. Mondrian Investment Partners LTD increased its position in shares of GSK by 17.6% during the fourth quarter. Mondrian Investment Partners LTD now owns 5,838,384 shares of the pharmaceutical company’s stock worth $205,920,000 after purchasing an additional 874,004 shares in the last quarter. Miller Howard Investments Inc. NY purchased a new stake in shares of GSK in the 4th quarter valued at about $23,366,000. Equity Investment Corp boosted its position in shares of GSK by 13.3% in the 4th quarter. Equity Investment Corp now owns 3,962,581 shares of the pharmaceutical company’s stock valued at $134,014,000 after purchasing an additional 466,327 shares during the period. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD purchased a new position in GSK during the 4th quarter worth approximately $11,584,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of NYSE GSK opened at $36.49 on Monday. 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 company has a market cap of $75.53 billion, a PE ratio of 22.95, a P/E/G ratio of 1.12 and a beta of 0.56. The stock has a fifty day moving average price of $37.63 and a 200 day moving average price of $36.51. GSK plc has a 1-year low of $31.72 and a 1-year high of $45.93.

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

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, February 21st will be given a dividend of $0.3932 per share. 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 4.31%. GSK’s payout ratio is presently 98.74%.

Analysts Set New Price Targets

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

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.