Grimes & Company Inc. Makes New $4.73 Million Investment in GSK plc (NYSE:GSK)

Grimes & Company Inc. purchased a new position in GSK plc (NYSE:GSK) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 139,875 shares of the pharmaceutical company’s stock, valued at approximately $4,731,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Geneos Wealth Management Inc. acquired a new stake in GSK in the 4th quarter worth $145,000. Brighton Jones LLC acquired a new stake in GSK in the 4th quarter worth $528,000. Kelleher Financial Advisors grew its position in GSK by 13.5% in the 4th quarter. Kelleher Financial Advisors now owns 11,387 shares of the pharmaceutical company’s stock worth $385,000 after purchasing an additional 1,357 shares during the last quarter. Cetera Trust Company N.A grew its position in GSK by 7.9% in the 4th quarter. Cetera Trust Company N.A now owns 6,590 shares of the pharmaceutical company’s stock worth $223,000 after purchasing an additional 485 shares during the last quarter. Finally, Ballentine Partners LLC grew its position in GSK by 40.7% in the 4th quarter. Ballentine Partners LLC now owns 17,150 shares of the pharmaceutical company’s stock worth $580,000 after purchasing an additional 4,959 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Trading Up 0.7 %

Shares of NYSE GSK opened at $34.29 on Friday. GSK plc has a 1-year low of $31.72 and a 1-year high of $45.92. The company has a market cap of $71.06 billion, a PE ratio of 22.26, a P/E/G ratio of 1.31 and a beta of 0.63. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $33.91 and a two-hundred day moving average of $37.81.

GSK Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.57 dividend on an annualized basis and a yield of 4.58%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 96.10%.

Analysts Set New Price Targets

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