Douglas Lane & Associates LLC Has $55.08 Million Stock Holdings in GSK plc (NYSE:GSK)

Douglas Lane & Associates LLC lowered its stake in GSK plc (NYSE:GSK) by 25.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,628,504 shares of the pharmaceutical company’s stock after selling 544,979 shares during the quarter. Douglas Lane & Associates LLC’s holdings in GSK were worth $55,076,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GSK. Eastern Bank acquired a new position in shares of GSK during the 3rd quarter worth approximately $26,000. Sunbelt Securities Inc. grew its stake in shares of GSK by 73.8% in the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after buying an additional 302 shares in the last quarter. Concord Wealth Partners increased its holdings in GSK by 231.8% during the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 547 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new stake in GSK during the second quarter worth $37,000. Finally, Fortitude Family Office LLC acquired a new stake in GSK in the third quarter valued at $42,000. Institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

GSK stock traded down $0.19 during mid-day trading on Wednesday, hitting $33.90. 1,448,735 shares of the company were exchanged, compared to its average volume of 2,534,150. GSK plc has a 1-year low of $32.83 and a 1-year high of $45.92. The business has a 50 day simple moving average of $34.59 and a 200-day simple moving average of $38.30. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $70.26 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 1.52 and a beta of 0.63.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Friday, November 15th will be paid a $0.3928 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a yield of 4.63%. GSK’s payout ratio is 98.70%.

Wall Street Analyst Weigh In

GSK has been the topic of several recent analyst reports. Guggenheim lowered shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. StockNews.com downgraded GSK from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and cut their price objective for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Finally, Deutsche Bank Aktiengesellschaft lowered GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

About GSK

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.