Raymond James Trust N.A. lifted its holdings in shares of GSK plc (NYSE:GSK – Get Rating) by 2.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,226 shares of the pharmaceutical company’s stock after buying an additional 1,180 shares during the period. Raymond James Trust N.A.’s holdings in GSK were worth $2,317,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Tyler Stone Wealth Management purchased a new position in shares of GSK during the 4th quarter worth approximately $26,000. Tsfg LLC increased its position in GSK by 67.9% during the first quarter. Tsfg LLC now owns 618 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 250 shares in the last quarter. Glassman Wealth Services increased its position in GSK by 71.3% during the fourth quarter. Glassman Wealth Services now owns 627 shares of the pharmaceutical company’s stock worth $28,000 after buying an additional 261 shares in the last quarter. Toth Financial Advisory Corp purchased a new position in GSK during the first quarter worth $30,000. Finally, Strategic Asset Management LLC increased its position in GSK by 119.8% during the second quarter. Strategic Asset Management LLC now owns 734 shares of the pharmaceutical company’s stock worth $32,000 after buying an additional 400 shares in the last quarter. 16.86% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on GSK. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating in a report on Thursday, September 8th. Deutsche Bank Aktiengesellschaft reduced their target price on GSK from GBX 1,750 ($21.15) to GBX 1,500 ($18.12) in a report on Wednesday, September 7th. UBS Group reduced their target price on GSK from GBX 1,876 ($22.67) to GBX 1,850 ($22.35) in a report on Wednesday, July 20th. Credit Suisse Group upgraded GSK from an “underperform” rating to a “neutral” rating in a research note on Thursday, September 15th. Finally, TheStreet cut GSK from a “b” rating to a “c+” rating in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $1,700.00.
GSK Stock Performance
GSK (NYSE:GSK – Get Rating) last released its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $9.35 billion. GSK had a return on equity of 27.84% and a net margin of 12.91%. On average, equities research analysts forecast that GSK plc will post 3.23 EPS for the current year.
GSK Increases Dividend
The business also recently declared 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. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.53 annualized dividend and a dividend yield of 5.10%. This is a boost from GSK’s previous quarterly dividend of $0.35. GSK’s dividend payout ratio is currently 50.66%.
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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