Brookstone Capital Management raised its position in shares of GSK plc (NYSE:GSK – Get Rating) by 147.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,703 shares of the pharmaceutical company's stock after buying an additional 29,622 shares during the quarter. Brookstone Capital Management's holdings in GSK were worth $2,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Thrive Wealth Management LLC boosted its position in shares of GSK by 152.2% in the 2nd quarter. Thrive Wealth Management LLC now owns 13,370 shares of the pharmaceutical company's stock worth $582,000 after purchasing an additional 8,069 shares in the last quarter. Greylin Investment Mangement Inc. boosted its holdings in GSK by 86.2% in the second quarter. Greylin Investment Mangement Inc. now owns 38,155 shares of the pharmaceutical company's stock worth $1,661,000 after acquiring an additional 17,665 shares in the last quarter. Stonnington Group LLC grew its stake in shares of GSK by 187.9% during the second quarter. Stonnington Group LLC now owns 20,150 shares of the pharmaceutical company's stock worth $873,000 after acquiring an additional 13,150 shares during the last quarter. Green Alpha Advisors LLC purchased a new stake in shares of GSK during the second quarter worth about $3,343,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of GSK by 5.5% during the second quarter. AdvisorNet Financial Inc now owns 25,436 shares of the pharmaceutical company's stock valued at $1,107,000 after acquiring an additional 1,324 shares in the last quarter. 16.86% of the stock is currently owned by institutional investors.

GSK Stock Down 0.9 %

Shares of GSK opened at $30.49 on Wednesday. The company has a market capitalization of $62.01 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.17 and a beta of 0.61. GSK plc has a 52 week low of $30.26 and a 52 week high of $46.97. The stock's 50-day moving average price is $36.65 and its 200-day moving average price is $41.16. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.83.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 6th. Shareholders of record on Friday, August 19th will be issued a $0.383 dividend. This is a boost from GSK's previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.53 dividend on an annualized basis and a yield of 5.02%. GSK's payout ratio is presently 50.66%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group dropped their target price on shares of GSK from GBX 1,876 ($22.67) to GBX 1,850 ($22.35) in a research report on Wednesday, July 20th. Jefferies Financial Group lowered shares of GSK from a "buy" rating to a "hold" rating in a report on Thursday, September 8th. StockNews.com lowered GSK from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. TheStreet downgraded GSK from a "b" rating to a "c+" rating in a research note on Monday, August 29th. Finally, Credit Suisse Group upgraded GSK from an "underperform" rating to a "neutral" rating in a research note on Thursday, September 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $1,700.00.

About GSK

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GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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