Provident Trust Co. Acquires 1,297,385 Shares of GSK plc (NYSE:GSK)

Provident Trust Co. increased its holdings in shares of GSK plc (NYSE:GSK) by 53.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,716,830 shares of the pharmaceutical company’s stock after purchasing an additional 1,297,385 shares during the quarter. GSK accounts for 2.8% of Provident Trust Co.’s holdings, making the stock its 16th biggest position. Provident Trust Co.’s holdings in GSK were worth $137,746,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of GSK. UMB Bank n.a. increased its stake in GSK by 4.8% during the 3rd quarter. UMB Bank n.a. now owns 6,462 shares of the pharmaceutical company’s stock worth $234,000 after purchasing an additional 297 shares in the last quarter. Aaron Wealth Advisors LLC increased its stake in GSK by 5.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 12,098 shares of the pharmaceutical company’s stock worth $439,000 after purchasing an additional 637 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in GSK during the 3rd quarter worth approximately $526,000. Ballentine Partners LLC increased its stake in GSK by 7.4% during the 3rd quarter. Ballentine Partners LLC now owns 21,400 shares of the pharmaceutical company’s stock worth $776,000 after purchasing an additional 1,466 shares in the last quarter. Finally, U.S. Capital Wealth Advisors LLC increased its stake in GSK by 14.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 221,128 shares of the pharmaceutical company’s stock worth $8,016,000 after purchasing an additional 27,753 shares in the last quarter. 15.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on GSK. Jefferies Financial Group raised GSK from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Guggenheim raised GSK from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. Citigroup raised GSK from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 13th. Finally, Morgan Stanley began coverage on GSK in a research report on Tuesday, January 23rd. They set an “equal weight” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

GSK Stock Up 0.5 %

NYSE:GSK traded up $0.20 during trading hours on Friday, reaching $41.11. 2,730,464 shares of the stock were exchanged, compared to its average volume of 2,904,690. The stock has a market cap of $85.20 billion, a PE ratio of 13.66, a PEG ratio of 1.44 and a beta of 0.64. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.88 and a quick ratio of 0.62. GSK plc has a twelve month low of $33.33 and a twelve month high of $43.84. The firm has a 50 day moving average of $41.83 and a 200 day moving average of $38.95.

GSK (NYSE:GSK) last released its quarterly earnings data on Wednesday, January 31st. The pharmaceutical company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.04). The company had revenue of $10 billion during the quarter, compared to analyst estimates of $9.79 billion. GSK had a net margin of 16.24% and a return on equity of 51.45%. On average, equities analysts expect that GSK plc will post 4.03 earnings per share for the current year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Friday, February 23rd were issued a $0.3564 dividend. This represents a $1.43 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Thursday, February 22nd. This is an increase from GSK’s previous quarterly dividend of $0.34. GSK’s dividend payout ratio is presently 52.82%.

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.