Connor Clark & Lunn Investment Management Ltd. Acquires 23,187 Shares of GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in GSK PLC by 11.2%, owning 230,561 shares valued at approximately $8.93 million after additional purchases in Q1.
• GSK's recent quarterly earnings report showed an EPS of $1.23, surpassing estimates, with revenues of $10.64 billion—up 1.3% year-over-year.
• The company announced a quarterly dividend of $0.4206 with an annualized yield of 4.5%, despite a high payout ratio of 79.17%.

Connor Clark & Lunn Investment Management Ltd. boosted its position in GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 11.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,561 shares of the pharmaceutical company's stock after purchasing an additional 23,187 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in GSK were worth $8,932,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Voloridge Investment Management LLC raised its holdings in shares of GSK by 1,360.4% during the 4th quarter. Voloridge Investment Management LLC now owns 2,165,043 shares of the pharmaceutical company's stock worth $73,222,000 after buying an additional 2,016,795 shares in the last quarter. Bridgewater Associates LP boosted its position in shares of GSK by 132.7% during the 4th quarter. Bridgewater Associates LP now owns 2,247,691 shares of the pharmaceutical company's stock valued at $76,017,000 after purchasing an additional 1,281,855 shares in the last quarter. Woodline Partners LP bought a new position in GSK in the fourth quarter worth approximately $36,665,000. Miller Howard Investments Inc. NY raised its stake in shares of GSK by 138.4% in the first quarter. Miller Howard Investments Inc. NY now owns 1,646,791 shares of the pharmaceutical company's stock worth $63,797,000 after purchasing an additional 955,891 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in GSK by 68.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 2,237,034 shares of the pharmaceutical company's stock worth $75,656,000 after acquiring an additional 907,068 shares during the period. 15.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GSK. Berenberg Bank restated a "hold" rating on shares of GSK in a research note on Tuesday, June 3rd. Wall Street Zen upgraded GSK from a "hold" rating to a "buy" rating in a research note on Sunday, August 3rd. Finally, Hsbc Global Res upgraded GSK to a "strong sell" rating in a research note on Monday, April 28th. One 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. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $37.38.

GSK Price Performance

GSK stock traded up $0.29 during mid-day trading on Friday, hitting $39.09. 1,424,664 shares of the stock were exchanged, compared to its average volume of 5,213,952. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.87 and a quick ratio of 0.57. The business has a fifty day moving average price of $38.54 and a 200 day moving average price of $37.92. GSK PLC Sponsored ADR has a 12 month low of $31.72 and a 12 month high of $44.67. The stock has a market capitalization of $79.70 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.70 and a beta of 0.51.

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

GSK Cuts Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.3%. GSK's dividend payout ratio is presently 79.17%.

About GSK

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.