Synovus Financial Corp Decreases Stock Holdings in GSK plc (NYSE:GSK)

Synovus Financial Corp reduced its position in shares of GSK plc (NYSE:GSK) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,082 shares of the pharmaceutical company’s stock after selling 7,719 shares during the period. Synovus Financial Corp’s holdings in GSK were worth $5,719,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Indiana Trust & Investment Management Co lifted its holdings in GSK by 200.0% in the 4th quarter. Indiana Trust & Investment Management Co now owns 750 shares of the pharmaceutical company’s stock worth $25,000 after buying an additional 500 shares during the period. Crews Bank & Trust bought a new position in shares of GSK during the fourth quarter valued at approximately $26,000. ST Germain D J Co. Inc. raised its holdings in shares of GSK by 195.5% during the fourth 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 in the last quarter. Sunbelt Securities Inc. lifted its stake in GSK by 73.8% in the third quarter. Sunbelt Securities Inc. now owns 711 shares of the pharmaceutical company’s stock worth $29,000 after acquiring an additional 302 shares during the period. Finally, Sierra Ocean LLC bought a new stake in GSK in the fourth quarter valued at $32,000. 15.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GSK has been the subject of several research analyst reports. StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 7th. Morgan Stanley assumed coverage on shares of GSK in a report on Wednesday, February 12th. They issued an “equal weight” rating for the company. Seven research analysts have rated the stock with a hold rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, GSK currently has an average rating of “Moderate Buy” and a consensus target price of $43.25.

GSK Stock Up 2.9 %

Shares of GSK stock opened at $34.58 on Monday. GSK plc has a 1 year low of $31.72 and a 1 year high of $45.93. The firm has a market cap of $71.35 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.12 and a beta of 0.56. The company has a 50-day moving average of $37.52 and a 200 day moving average of $36.22. 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 (NYSE:GSK) last announced its quarterly earnings data on Wednesday, February 5th. The pharmaceutical company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.15. GSK had a net margin of 8.13% and a return on equity of 48.59%. As a group, sell-side analysts anticipate that GSK plc will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Friday, February 21st were paid a dividend of $0.3932 per share. This is a boost from GSK’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, February 21st. This represents a $1.57 dividend on an annualized basis and a yield of 4.55%. GSK’s payout ratio is presently 100.63%.

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.