Ritholtz Wealth Management boosted its holdings in shares of GSK plc (NYSE:GSK – Get Rating) by 39.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,230 shares of the pharmaceutical company's stock after buying an additional 11,920 shares during the period. Ritholtz Wealth Management's holdings in GSK were worth $1,838,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Atria Investments LLC increased its holdings in GSK by 19.9% during the first quarter. Atria Investments LLC now owns 34,436 shares of the pharmaceutical company's stock valued at $1,500,000 after buying an additional 5,710 shares during the period. Cornerstone Wealth Management LLC grew its position in GSK by 30.4% during the 4th quarter. Cornerstone Wealth Management LLC now owns 7,429 shares of the pharmaceutical company's stock worth $327,000 after purchasing an additional 1,733 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in shares of GSK by 14.9% in the first quarter. Belpointe Asset Management LLC now owns 21,281 shares of the pharmaceutical company's stock valued at $928,000 after purchasing an additional 2,764 shares during the period. Morningstar Investment Services LLC raised its position in GSK by 6.3% during the first quarter. Morningstar Investment Services LLC now owns 7,110 shares of the pharmaceutical company's stock worth $310,000 after acquiring an additional 421 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in GSK by 13.6% in the first quarter. Mercer Global Advisors Inc. ADV now owns 123,778 shares of the pharmaceutical company's stock valued at $5,392,000 after purchasing an additional 14,860 shares during the period. Institutional investors own 16.86% of the company's stock.
Get GSK alerts:GSK Price Performance
NYSE GSK traded down $0.78 during trading hours on Friday, hitting $29.23. 226,925 shares of the company's stock traded hands, compared to its average volume of 6,046,734. The firm's 50-day moving average is $35.90 and its 200-day moving average is $40.93. GSK plc has a 52-week low of $29.53 and a 52-week high of $46.97. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.43 and a quick ratio of 1.31. The company has a market capitalization of $59.44 billion, a PE ratio of 9.94, a PEG ratio of 1.13 and a beta of 0.61.
GSK (NYSE:GSK – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.11. GSK had a net margin of 12.91% and a return on equity of 27.84%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $9.35 billion. Equities analysts forecast that GSK plc will post 3.23 EPS for the current fiscal year.GSK Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, August 19th will be given a $0.383 dividend. This represents a $1.53 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date is Thursday, August 18th. This is a positive change from GSK's previous quarterly dividend of $0.35. GSK's dividend payout ratio is currently 50.66%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on GSK shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of GSK from GBX 1,750 ($21.15) to GBX 1,500 ($18.12) in a research report on Wednesday, September 7th. StockNews.com cut GSK from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. TheStreet cut GSK from a "b" rating to a "c+" rating in a research report on Monday, August 29th. UBS Group cut their price objective on GSK from GBX 1,876 ($22.67) to GBX 1,850 ($22.35) in a report on Wednesday, July 20th. Finally, Morgan Stanley decreased their target price on GSK from GBX 1,860 ($22.47) to GBX 1,550 ($18.73) in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average 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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