Verity Asset Management Inc. Raises Position in GSK plc (NYSE:GSK)

Verity Asset Management Inc. lifted its position in shares of GSK plc (NYSE:GSK) by 20.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,420 shares of the pharmaceutical company’s stock after acquiring an additional 2,813 shares during the period. Verity Asset Management Inc.’s holdings in GSK were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eastern Bank purchased a new position in shares of GSK during the third quarter valued at approximately $26,000. Crews Bank & Trust bought a new position in GSK in the fourth quarter worth approximately $26,000. ST Germain D J Co. Inc. grew its position in shares of GSK by 195.5% during the 4th quarter. ST Germain D J Co. Inc. now owns 789 shares of the pharmaceutical company’s stock valued at $27,000 after acquiring an additional 522 shares during the period. Sunbelt Securities Inc. grew its holdings in GSK by 73.8% during the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock valued at $29,000 after purchasing an additional 302 shares during the period. Finally, Concord Wealth Partners boosted its position in shares of GSK by 231.8% in the third quarter. Concord Wealth Partners now owns 783 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 547 shares during the period. 15.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Guggenheim cut GSK from a “buy” rating to a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $53.00 to $39.50 in a report on Tuesday, November 12th. StockNews.com lowered GSK from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft cut shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, one has issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GSK currently has an average rating of “Moderate Buy” and an average target price of $43.25.

GSK Price Performance

NYSE:GSK opened at $34.91 on Tuesday. The firm has a market cap of $72.34 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.38 and a beta of 0.64. The stock has a 50 day moving average of $34.07 and a two-hundred day moving average of $37.67. GSK plc has a 12 month low of $31.72 and a 12 month high of $45.92. The company has a current ratio of 0.81, a quick ratio of 0.53 and a debt-to-equity ratio of 0.98.

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.