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

Cullen Frost Bankers Inc. raised its holdings in GSK plc (NYSE:GSK) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,482 shares of the pharmaceutical company’s stock after buying an additional 9,777 shares during the period. Cullen Frost Bankers Inc.’s holdings in GSK were worth $6,540,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Versant Capital Management Inc boosted its holdings in GSK by 2,816.7% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 676 shares during the period. Larson Financial Group LLC boosted its stake in shares of GSK by 271.8% in the 3rd quarter. Larson Financial Group LLC now owns 885 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 647 shares during the period. BKM Wealth Management LLC purchased a new position in shares of GSK in the 4th quarter valued at about $32,000. Jones Financial Companies Lllp increased its stake in shares of GSK by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 1,327 shares of the pharmaceutical company’s stock worth $48,000 after buying an additional 509 shares during the period. Finally, Princeton Global Asset Management LLC raised its holdings in GSK by 54.3% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,515 shares of the pharmaceutical company’s stock valued at $56,000 after acquiring an additional 533 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Morgan Stanley assumed coverage on GSK in a research note on Tuesday, January 23rd. They set an “equal weight” rating for the company. Guggenheim upgraded shares of GSK from a “neutral” rating to a “buy” rating in a report on Monday, March 4th. Finally, Citigroup raised shares of GSK from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

GSK Stock Performance

NYSE:GSK opened at $44.15 on Thursday. The company has a market capitalization of $91.49 billion, a PE ratio of 15.99, a P/E/G ratio of 1.85 and a beta of 0.65. GSK plc has a 52-week low of $33.33 and a 52-week high of $44.33. The stock’s 50 day moving average price is $41.93 and its 200 day moving average price is $39.30. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.15.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be given a dividend of $0.3762 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from GSK’s previous quarterly dividend of $0.36. This represents a $1.50 dividend on an annualized basis and a dividend yield of 3.41%. GSK’s dividend payout ratio (DPR) is 53.26%.

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.