Cadence Bank Buys 1,573 Shares of GSK plc (NYSE:GSK)

Cadence Bank raised its stake in GSK plc (NYSE:GSK) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,910 shares of the pharmaceutical company’s stock after acquiring an additional 1,573 shares during the period. Cadence Bank’s holdings in GSK were worth $768,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of GSK. JTC Employer Solutions Trustee Ltd increased its position in shares of GSK by 71.3% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock worth $909,063,000 after purchasing an additional 8,800,822 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of GSK in the fourth quarter valued at approximately $92,281,000. Armistice Capital LLC boosted its holdings in shares of GSK by 670.5% in the 4th quarter. Armistice Capital LLC now owns 2,196,000 shares of the pharmaceutical company’s stock worth $81,384,000 after acquiring an additional 1,911,000 shares in the last quarter. Mondrian Investment Partners LTD grew its position in GSK by 37.8% during the 1st quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after acquiring an additional 1,512,442 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in GSK by 10.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,065,558 shares of the pharmaceutical company’s stock valued at $558,330,000 after purchasing an additional 1,465,165 shares in the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. The Goldman Sachs Group initiated coverage on GSK in a research note on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a research report on Thursday, June 20th. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Finally, Citigroup raised shares of GSK to a “strong-buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, GSK has an average rating of “Buy” and an average target price of $50.00.

GSK Trading Up 2.0 %

NYSE GSK traded up $0.79 during trading hours on Friday, hitting $39.86. The company’s stock had a trading volume of 3,060,958 shares, compared to its average volume of 3,514,577. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92. The firm has a market capitalization of $82.61 billion, a P/E ratio of 14.44, a PEG ratio of 1.19 and a beta of 0.64. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.15. The stock has a fifty day moving average of $40.89 and a 200 day moving average of $41.40.

GSK (NYSE:GSK) last posted its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. GSK had a return on equity of 51.54% and a net margin of 14.62%. The company had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $8.98 billion. Equities research analysts forecast that GSK plc will post 4.11 earnings per share for the current fiscal year.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, May 17th were given a dividend of $0.3762 per share. This is a positive change from GSK’s previous quarterly dividend of $0.36. This represents a $1.50 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend was Thursday, May 16th. GSK’s payout ratio is presently 54.71%.

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.