MONECO Advisors LLC Has $446,000 Stock Holdings in GSK plc (NYSE:GSK)

MONECO Advisors LLC cut its position in shares of GSK plc (NYSE:GSK) by 5.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,574 shares of the pharmaceutical company’s stock after selling 611 shares during the quarter. MONECO Advisors LLC’s holdings in GSK were worth $446,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GSK. Register Financial Advisors LLC purchased a new position in GSK during the 1st quarter valued at about $31,000. Richardson Financial Services Inc. bought a new stake in GSK during the fourth quarter worth approximately $40,000. Newbridge Financial Services Group Inc. bought a new position in shares of GSK in the first quarter valued at approximately $49,000. Triad Wealth Partners LLC acquired a new stake in shares of GSK in the second quarter worth $49,000. Finally, Jones Financial Companies Lllp grew its holdings in GSK by 23.1% in the 4th quarter. Jones Financial Companies Lllp now owns 1,633 shares of the pharmaceutical company’s stock valued at $61,000 after buying an additional 306 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

GSK has been the subject of a number of research analyst reports. Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a research note on Thursday, June 20th. UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Argus upgraded shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group lifted their price target on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $50.00.

GSK Price Performance

Shares of GSK traded up $0.28 during mid-day trading on Monday, hitting $41.56. 597,935 shares of the company traded hands, compared to its average volume of 3,564,030. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $86.13 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.32 and a beta of 0.64. The business has a 50-day moving average of $39.73 and a 200 day moving average of $41.49. GSK plc has a one year low of $33.67 and a one year high of $45.92.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be given a dividend of $0.3843 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 3.70%. GSK’s payout ratio is currently 54.71%.

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.