Independence Bank of Kentucky Decreases Stake in GSK plc (NYSE:GSK)

Independence Bank of Kentucky cut its stake in shares of GSK plc (NYSE:GSK) by 40.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,569 shares of the pharmaceutical company’s stock after selling 1,072 shares during the quarter. Independence Bank of Kentucky’s holdings in GSK were worth $53,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its holdings 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 period. Fisher Asset Management LLC boosted its position in 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 buying an additional 870,449 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in GSK by 30.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 3,542,143 shares of the pharmaceutical company’s stock worth $144,803,000 after buying an additional 833,080 shares during the period. Bridgewater Associates LP raised its position in GSK by 107.3% during the 3rd quarter. Bridgewater Associates LP now owns 965,836 shares of the pharmaceutical company’s stock worth $39,483,000 after buying an additional 500,010 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in GSK by 420.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 564,934 shares of the pharmaceutical company’s stock valued at $23,095,000 after acquiring an additional 456,319 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Price Performance

NYSE:GSK opened at $35.20 on Monday. The stock has a 50 day moving average of $34.07 and a two-hundred day moving average of $37.68. GSK plc has a 12 month low of $31.72 and a 12 month high of $45.92. The firm has a market cap of $72.96 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 1.37 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

Wall Street Analysts Forecast Growth

GSK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Guggenheim downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and reduced their price target for the company from $53.00 to $39.50 in a research report on Tuesday, November 12th. Finally, StockNews.com downgraded GSK from a “strong-buy” rating to a “buy” rating in a report on Tuesday, January 21st. Six investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.25.

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.