Parallel Advisors LLC Purchases 1,690 Shares of GSK plc (NYSE:GSK)

Parallel Advisors LLC lifted its position in shares of GSK plc (NYSE:GSK) by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,840 shares of the pharmaceutical company’s stock after purchasing an additional 1,690 shares during the period. Parallel Advisors LLC’s holdings in GSK were worth $333,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. United Bank lifted its holdings in shares of GSK by 7.3% during the third quarter. United Bank now owns 25,785 shares of the pharmaceutical company’s stock worth $1,054,000 after buying an additional 1,760 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in GSK by 3.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 53,348 shares of the pharmaceutical company’s stock worth $2,181,000 after purchasing an additional 1,737 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in GSK by 11.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 142,348 shares of the pharmaceutical company’s stock valued at $5,819,000 after purchasing an additional 14,565 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of GSK by 13.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 121,603 shares of the pharmaceutical company’s stock worth $4,971,000 after purchasing an additional 14,687 shares in the last quarter. Finally, Raymond James Trust N.A. increased its holdings in shares of GSK by 6.9% during the third quarter. Raymond James Trust N.A. now owns 45,948 shares of the pharmaceutical company’s stock worth $1,878,000 after purchasing an additional 2,969 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com raised GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Morgan Stanley assumed coverage on GSK in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Seven analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.25.

GSK Trading Down 0.5 %

GSK opened at $39.22 on Friday. The company’s 50 day moving average is $36.66 and its 200-day moving average is $36.97. The company has a market cap of $81.18 billion, a P/E ratio of 24.67, a PEG ratio of 1.12 and a beta of 0.58. GSK plc has a 1-year low of $31.72 and a 1-year high of $45.93. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12.

GSK (NYSE:GSK) last posted its earnings results on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share 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%. Equities research analysts predict that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The company 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 $0.3932 dividend. The ex-dividend date is Friday, February 21st. This is an increase from GSK’s previous quarterly dividend of $0.39. This represents a $1.57 annualized dividend and a yield of 4.01%. 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.