OLD National Bancorp IN Trims Stake in GSK plc (NYSE:GSK)

OLD National Bancorp IN lowered its position in shares of GSK plc (NYSE:GSK) by 18.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,106 shares of the pharmaceutical company’s stock after selling 2,000 shares during the period. OLD National Bancorp IN’s holdings in GSK were worth $353,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox lifted its stake in GSK by 0.5% during the fourth quarter. Dodge & Cox now owns 68,440,912 shares of the pharmaceutical company’s stock worth $2,314,672,000 after purchasing an additional 353,749 shares during the last quarter. FMR LLC lifted its stake in GSK by 82.1% during the fourth quarter. FMR LLC now owns 52,823,032 shares of the pharmaceutical company’s stock worth $1,786,475,000 after purchasing an additional 23,814,104 shares during the last quarter. Primecap Management Co. CA lifted its stake in GSK by 70.1% during the fourth quarter. Primecap Management Co. CA now owns 25,261,660 shares of the pharmaceutical company’s stock worth $854,349,000 after purchasing an additional 10,407,905 shares during the last quarter. Fisher Asset Management LLC lifted its stake in GSK by 1.4% during the fourth quarter. Fisher Asset Management LLC now owns 18,836,797 shares of the pharmaceutical company’s stock worth $637,061,000 after purchasing an additional 259,867 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in GSK by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,566,922 shares of the pharmaceutical company’s stock worth $255,914,000 after purchasing an additional 35,134 shares during the last quarter. Institutional investors own 15.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GSK shares. Wall Street Zen lowered GSK from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Berenberg Bank reissued a “hold” rating on shares of GSK in a research note on Tuesday, June 3rd. BNP Paribas began coverage on GSK in a research note on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 target price for the company. Morgan Stanley began coverage on GSK in a research note on Wednesday, February 12th. They issued an “equal weight” rating for the company. Finally, Hsbc Global Res raised GSK to a “strong sell” rating in a research note on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a strong buy rating to the stock. According to MarketBeat, GSK currently has an average rating of “Hold” and a consensus target price of $37.38.

GSK Trading Up 1.1%

GSK opened at $41.30 on Wednesday. The business has a 50 day simple moving average of $37.70 and a two-hundred day simple moving average of $36.51. The firm has a market capitalization of $84.65 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.12 and a beta of 0.52. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.78 and a quick ratio of 0.52. GSK plc has a one year low of $31.72 and a one year high of $44.67.

GSK (NYSE:GSK) last released its quarterly earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $10.06 billion during the quarter, compared to analyst estimates of $7.52 billion. GSK had a return on equity of 48.59% and a net margin of 8.13%. GSK’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. Analysts predict that GSK plc will post 4.14 EPS for the current year.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, May 16th will be given a dividend of $0.4216 per share. This is a positive change from GSK’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, May 16th. This represents a $1.69 dividend on an annualized basis and a yield of 4.08%. GSK’s dividend payout ratio is presently 86.60%.

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.