ProVise Management Group LLC Sells 11,304 Shares of GSK plc (NYSE:GSK)

ProVise Management Group LLC cut its holdings in GSK plc (NYSE:GSK) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 112,051 shares of the pharmaceutical company’s stock after selling 11,304 shares during the period. ProVise Management Group LLC’s holdings in GSK were worth $3,790,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in GSK by 8.3% in the third quarter. FMR LLC now owns 29,008,928 shares of the pharmaceutical company’s stock worth $1,185,885,000 after purchasing an additional 2,224,345 shares during the last quarter. Fisher Asset Management LLC increased 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 acquiring an additional 870,449 shares during the period. Clifford Capital Partners LLC increased 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 acquiring an additional 51,378 shares during the period. Cerity Partners LLC increased 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 acquiring an additional 165,556 shares during the period. Finally, Natixis Advisors LLC increased 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 acquiring an additional 83,433 shares during the period. 15.74% of the stock is owned by institutional investors.

GSK Price Performance

Shares of NYSE GSK opened at $40.35 on Wednesday. GSK plc has a 1 year low of $31.72 and a 1 year high of $45.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. The company’s 50-day moving average is $36.30 and its 200 day moving average is $36.96. The stock has a market capitalization of $83.51 billion, a P/E ratio of 25.37, a P/E/G 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. On average, sell-side analysts expect that GSK plc will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, February 21st will be paid a dividend of $0.3932 per share. The ex-dividend date is Friday, February 21st. This represents a $1.57 annualized dividend and a yield of 3.90%. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s payout ratio is presently 98.74%.

Wall Street Analyst Weigh In

GSK has been the topic of a number of analyst reports. StockNews.com upgraded shares of GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Morgan Stanley initiated coverage on shares of GSK in a research report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. Seven investment analysts have rated the stock with a hold rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.