Cerro Pacific Wealth Advisors LLC Lowers Holdings in GSK plc (NYSE:GSK)

Cerro Pacific Wealth Advisors LLC decreased its holdings in GSK plc (NYSE:GSK) by 32.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,297 shares of the pharmaceutical company’s stock after selling 5,360 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in GSK were worth $382,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GSK. Dimensional Fund Advisors LP grew its holdings in GSK by 33.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,256,320 shares of the pharmaceutical company’s stock valued at $86,875,000 after buying an additional 569,614 shares in the last quarter. AE Wealth Management LLC grew its stake in GSK by 4.3% during the second quarter. AE Wealth Management LLC now owns 19,869 shares of the pharmaceutical company’s stock valued at $765,000 after acquiring an additional 815 shares in the last quarter. Profund Advisors LLC increased its holdings in GSK by 3.0% in the 2nd quarter. Profund Advisors LLC now owns 14,979 shares of the pharmaceutical company’s stock valued at $577,000 after acquiring an additional 433 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in GSK by 9.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,542 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 303 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its holdings in shares of GSK by 4.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 12,133 shares of the pharmaceutical company’s stock valued at $472,000 after purchasing an additional 564 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Up 1.9 %

NYSE GSK opened at $34.08 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 0.98. GSK plc has a 52 week low of $31.72 and a 52 week high of $45.92. The firm has a market capitalization of $70.63 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 1.32 and a beta of 0.63. The company has a fifty day moving average of $33.89 and a two-hundred day moving average of $37.87.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Friday, November 15th were issued a dividend of $0.3928 per share. This represents a $1.57 annualized dividend and a yield of 4.61%. This is an increase from GSK’s previous quarterly dividend of $0.38. The ex-dividend date was Friday, November 15th. GSK’s dividend payout ratio is presently 96.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GSK shares. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and reduced their target price for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft downgraded GSK from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com downgraded GSK from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Finally, Guggenheim downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, GSK has a consensus rating of “Moderate Buy” and a consensus target price of $43.25.

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.