Lazard Asset Management LLC Sells 7,440 Shares of GSK plc (NYSE:GSK) (2024)

Posted by Defense World Staff on Mar 10th, 2024

Lazard Asset Management LLC reduced its position in shares of GSK plc (NYSE:GSK – Free Report) by 23.3% in the third quarter, Holdings Channel reports. The fund owned 24,423 shares of the pharmaceutical company’s stock after selling 7,440 shares during the quarter. Lazard Asset Management LLC’s holdings in GSK were worth $885,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Callahan Advisors LLC bought a new position in shares of GSK during the 3rd quarter valued at approximately $1,119,000. Avantax Advisory Services Inc. boosted its position in shares of GSK by 23.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 76,840 shares of the pharmaceutical company’s stock valued at $2,785,000 after acquiring an additional 14,689 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of GSK by 18.9% during the 3rd quarter. Kestra Private Wealth Services LLC now owns 25,754 shares of the pharmaceutical company’s stock valued at $934,000 after acquiring an additional 4,101 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of GSK by 64.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,625,585 shares of the pharmaceutical company’s stock valued at $58,927,000 after acquiring an additional 638,544 shares during the last quarter. Finally, Mondrian Investment Partners LTD boosted its position in shares of GSK by 28.5% during the 2nd quarter. Mondrian Investment Partners LTD now owns 1,845,585 shares of the pharmaceutical company’s stock valued at $65,777,000 after acquiring an additional 409,479 shares during the last quarter. 13.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GSK. Morgan Stanley started coverage on GSK in a research report on Tuesday, January 23rd. They set an “equal weight” rating for the company. Jefferies Financial Group upgraded GSK from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Citigroup upgraded GSK from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 13th. Finally, Guggenheim upgraded GSK from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Read Our Latest Research Report on GSK

GSK Stock Performance

GSK stock opened at $43.14 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.88 and a debt-to-equity ratio of 1.19. The business’s fifty day simple moving average is $40.75 and its two-hundred day simple moving average is $37.66. GSK plc has a twelve month low of $33.20 and a twelve month high of $43.84. The firm has a market cap of $88.80 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.97 and a beta of 0.64.

GSK (NYSE:GSK – Get Free Report) last released its earnings results on Wednesday, January 31st. The pharmaceutical company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.04). GSK had a return on equity of 51.45% and a net margin of 16.24%. The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $9.79 billion. Analysts predict that GSK plc will post 4.09 earnings per share for the current year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Friday, February 23rd will be paid a $0.3564 dividend. This is a positive change from GSK’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, February 22nd. This represents a $1.43 dividend on an annualized basis and a yield of 3.30%. GSK’s dividend payout ratio (DPR) is presently 52.82%.

GSK Company Profile

(Free Report)

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