Cullen Frost Bankers Inc. Increases Stake in GSK plc (NYSE:GSK)

Cullen Frost Bankers Inc. raised its holdings in shares of GSK plc (NYSE:GSK) by 14.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 368,174 shares of the pharmaceutical company’s stock after buying an additional 46,852 shares during the period. Cullen Frost Bankers Inc.’s holdings in GSK were worth $14,175,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GSK. 1832 Asset Management L.P. lifted its position in GSK by 9.1% during the first quarter. 1832 Asset Management L.P. now owns 3,078 shares of the pharmaceutical company’s stock valued at $132,000 after purchasing an additional 257 shares during the last quarter. Personal CFO Solutions LLC raised its stake in shares of GSK by 2.7% in the fourth quarter. Personal CFO Solutions LLC now owns 10,087 shares of the pharmaceutical company’s stock valued at $374,000 after acquiring an additional 263 shares during the period. Boltwood Capital Management raised its stake in shares of GSK by 2.5% in the second quarter. Boltwood Capital Management now owns 11,133 shares of the pharmaceutical company’s stock valued at $429,000 after acquiring an additional 270 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of GSK by 4.7% in the first quarter. J.W. Cole Advisors Inc. now owns 6,097 shares of the pharmaceutical company’s stock valued at $261,000 after acquiring an additional 271 shares during the period. Finally, First Affirmative Financial Network raised its stake in shares of GSK by 4.7% in the second quarter. First Affirmative Financial Network now owns 6,359 shares of the pharmaceutical company’s stock valued at $245,000 after acquiring an additional 283 shares during the period. 15.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GSK shares. UBS Group downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Argus raised shares of GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Citigroup raised shares of GSK to a “strong-buy” rating in a research note on Monday, June 24th. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Finally, Barclays raised shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, GSK presently has an average rating of “Buy” and a consensus target price of $50.00.

GSK Stock Up 1.3 %

NYSE GSK traded up $0.54 during trading on Friday, reaching $43.67. 3,763,259 shares of the company’s stock traded hands, compared to its average volume of 3,569,670. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54. The firm has a market cap of $90.51 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 1.42 and a beta of 0.64. The company’s 50 day simple moving average is $40.54 and its two-hundred day simple moving average is $41.65. GSK plc has a 12-month low of $33.67 and a 12-month high of $45.92.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be issued a $0.3843 dividend. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, August 16th. GSK’s dividend payout ratio (DPR) is currently 54.71%.

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.