DAVENPORT & Co LLC Purchases 3,084 Shares of GSK plc (NYSE:GSK)

Posted by on Apr 3rd, 2023

DAVENPORT & Co LLC boosted its position in GSK plc (NYSE:GSK – Get Rating) by 11.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 30,877 shares of the pharmaceutical company’s stock after acquiring an additional 3,084 shares during the period. DAVENPORT & Co LLC’s holdings in GSK were worth $1,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BLB&B Advisors LLC raised its stake in GSK by 101.0% in the fourth quarter. BLB&B Advisors LLC now owns 16,369 shares of the pharmaceutical company’s stock valued at $575,000 after purchasing an additional 8,226 shares in the last quarter. Prime Capital Investment Advisors LLC purchased a new stake in GSK in the third quarter worth $201,000. Tudor Investment Corp Et Al purchased a new position in GSK during the third quarter valued at $681,000. Greenleaf Trust lifted its position in GSK by 39.8% during the third quarter. Greenleaf Trust now owns 9,442 shares of the pharmaceutical company’s stock valued at $278,000 after buying an additional 2,690 shares during the period. Finally, US Bancorp DE lifted its position in GSK by 5.9% during the third quarter. US Bancorp DE now owns 274,523 shares of the pharmaceutical company’s stock valued at $8,079,000 after buying an additional 15,203 shares during the period. 13.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GSK shares. Bank of America downgraded GSK from a “neutral” rating to an “underperform” rating in a report on Monday, December 5th. Deutsche Bank Aktiengesellschaft upgraded GSK from a “hold” rating to a “buy” rating in a research note on Friday, March 17th. Berenberg Bank boosted their price target on GSK from GBX 1,580 ($19.41) to GBX 1,730 ($21.26) in a report on Friday, February 10th. AlphaValue raised GSK to a “buy” rating in a report on Thursday, December 8th. Finally, The Goldman Sachs Group started coverage on GSK in a research report on Sunday, February 26th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $1,576.88.

GSK Price Performance

Shares of GSK stock opened at $35.58 on Monday. GSK plc has a twelve month low of $28.47 and a twelve month high of $46.97. The stock has a market capitalization of $76.70 billion, a P/E ratio of 4.15, a PEG ratio of 1.77 and a beta of 0.65. The company has a current ratio of 0.91, a quick ratio of 0.68 and a debt-to-equity ratio of 1.69. The business’s fifty day moving average price is $34.98 and its 200 day moving average price is $33.81.

GSK (NYSE:GSK – Get Rating) last announced its earnings results on Wednesday, February 1st. The pharmaceutical company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.05. The business had revenue of $8.66 billion for the quarter, compared to analyst estimates of $8.30 billion. GSK had a return on equity of 36.37% and a net margin of 43.75%. As a group, research analysts anticipate that GSK plc will post 3.52 earnings per share for the current year.

GSK Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 13th. Shareholders of record on Friday, February 24th will be given a $0.3404 dividend. The ex-dividend date is Thursday, February 23rd. This represents a $1.36 dividend on an annualized basis and a yield of 3.83%. GSK’s dividend payout ratio (DPR) is 15.50%.

About GSK

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GSK Plc is a healthcare company, which engages in the research, development, and manufacture of pharmaceutical medicines, vaccines, and consumer healthcare products. It operates through the following segments: Commercial Operations, Research and Development, and Consumer Healthcare. The company was founded in 1715 and is headquartered in Middlesex, the United Kingdom.

Further Reading

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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