Ethic Inc. Buys 34,185 Shares of GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Ethic Inc. increased its holdings in GSK PLC by 32% during the first quarter, now owning 141,089 shares valued at $5.34 million.
• GSK's quarterly earnings beat estimates at $1.23 per share, with revenue of $10.64 billion, significantly higher than expected.
• The company has announced a quarterly dividend of $0.4206, yielding 4.3%, while maintaining a payout ratio of 77.78%.

Ethic Inc. increased its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 32.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,089 shares of the pharmaceutical company's stock after acquiring an additional 34,185 shares during the period. Ethic Inc.'s holdings in GSK were worth $5,343,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of GSK. HHM Wealth Advisors LLC lifted its holdings in GSK by 222.2% during the 1st quarter. HHM Wealth Advisors LLC now owns 667 shares of the pharmaceutical company's stock worth $26,000 after buying an additional 460 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of GSK in the 1st quarter valued at $31,000. Richardson Financial Services Inc. raised its stake in GSK by 127.9% during the 1st quarter. Richardson Financial Services Inc. now owns 841 shares of the pharmaceutical company's stock worth $33,000 after buying an additional 472 shares during the period. Olde Wealth Management LLC acquired a new stake in GSK during the 1st quarter worth $36,000. Finally, Cary Street Partners Investment Advisory LLC raised its stake in GSK by 525.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 1,014 shares of the pharmaceutical company's stock worth $39,000 after buying an additional 852 shares during the period. 15.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on GSK. Wall Street Zen raised GSK from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Hsbc Global Res upgraded GSK to a "strong sell" rating in a report on Monday, April 28th. Finally, Berenberg Bank reiterated a "hold" rating on shares of GSK in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $37.38.

GSK Stock Up 0.2%

NYSE GSK opened at $39.30 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. The company has a market cap of $80.14 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.71 and a beta of 0.51. The company has a 50 day moving average of $38.50 and a 200-day moving average of $37.95. GSK PLC Sponsored ADR has a 1-year low of $31.72 and a 1-year high of $44.67.

GSK (NYSE:GSK - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.11. The business had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $7.92 billion. GSK had a return on equity of 49.22% and a net margin of 10.81%. The firm's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share. On average, equities research analysts expect that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current fiscal year.

GSK Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Friday, August 15th will be given a dividend of $0.4206 per share. This represents a $1.68 annualized dividend and a yield of 4.3%. The ex-dividend date is Friday, August 15th. GSK's payout ratio is currently 77.78%.

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.

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