PNC Financial Services Group Inc. Has $7.68 Million Stake in GSK plc (NYSE:GSK)

PNC Financial Services Group Inc. reduced its holdings in GSK plc (NYSE:GSK) by 6.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 227,174 shares of the pharmaceutical company’s stock after selling 15,731 shares during the quarter. PNC Financial Services Group Inc.’s holdings in GSK were worth $7,683,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position in shares of GSK by 8.3% in the third quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock valued at $1,185,885,000 after purchasing an additional 2,224,345 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of GSK by 4.9% in the third quarter. Fisher Asset Management LLC now owns 18,576,930 shares of the pharmaceutical company’s stock valued at $759,425,000 after purchasing an additional 870,449 shares during the last quarter. Clifford Capital Partners LLC grew its position in shares of GSK by 14.3% in the third quarter. Clifford Capital Partners LLC now owns 409,669 shares of the pharmaceutical company’s stock valued at $16,747,000 after purchasing an additional 51,378 shares during the last quarter. Cerity Partners LLC grew its position in shares of GSK by 61.8% in the third quarter. Cerity Partners LLC now owns 433,628 shares of the pharmaceutical company’s stock valued at $17,728,000 after purchasing an additional 165,556 shares during the last quarter. Finally, Natixis Advisors LLC grew its position in shares of GSK by 20.0% in the third quarter. Natixis Advisors LLC now owns 500,495 shares of the pharmaceutical company’s stock valued at $20,460,000 after purchasing an additional 83,433 shares during the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GSK. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and lowered their price target for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Morgan Stanley initiated coverage on shares of GSK in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 7th. Seven analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Down 2.1 %

NYSE GSK opened at $39.47 on Wednesday. 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 firm has a 50-day simple moving average of $35.72 and a 200 day simple moving average of $37.10. GSK plc has a twelve month low of $31.72 and a twelve month high of $45.93. The stock has a market cap of $81.81 billion, a PE ratio of 24.82, a PEG ratio of 1.12 and a beta of 0.58.

GSK (NYSE:GSK) last announced its quarterly earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 EPS for the quarter, topping 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, research analysts forecast that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, February 21st will be paid 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 dividend on an annualized basis and a yield of 3.98%. GSK’s dividend payout ratio (DPR) is currently 98.74%.

GSK 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.