Meyer Handelman Co. Sells 4,570 Shares of GSK plc (NYSE:GSK)

Meyer Handelman Co. decreased its holdings in shares of GSK plc (NYSE:GSK) by 19.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,017 shares of the pharmaceutical company’s stock after selling 4,570 shares during the period. Meyer Handelman Co.’s holdings in GSK were worth $643,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. 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 valued at $1,185,885,000 after buying an additional 2,224,345 shares during the period. Fisher Asset Management LLC increased its stake in shares of GSK by 4.9% in the 3rd 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 in the last quarter. Primecap Management Co. CA lifted its position in shares of GSK by 2.4% during the 3rd quarter. Primecap Management Co. CA now owns 14,853,755 shares of the pharmaceutical company’s stock valued at $607,222,000 after acquiring an additional 342,365 shares during the period. Provident Trust Co. boosted its stake in GSK by 1.7% during the third quarter. Provident Trust Co. now owns 3,953,602 shares of the pharmaceutical company’s stock worth $161,623,000 after acquiring an additional 66,765 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in GSK by 30.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 3,542,143 shares of the pharmaceutical company’s stock worth $144,803,000 after acquiring an additional 833,080 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Analyst Ratings Changes

GSK has been the subject of several research reports. Jefferies Financial Group downgraded GSK from a “buy” rating to a “hold” rating and reduced their target price for the company from $53.00 to $39.50 in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered 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 report on Thursday, October 31st. Finally, StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.25.

GSK Price Performance

GSK stock opened at $32.12 on Wednesday. GSK plc has a 52 week low of $31.72 and a 52 week high of $45.92. The stock has a market cap of $66.57 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.52 and a beta of 0.63. The company’s 50 day moving average price is $34.20 and its two-hundred day moving average price is $38.08. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Friday, November 15th were given a dividend of $0.3928 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.57 annualized dividend and a yield of 4.89%. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio is presently 95.45%.

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.