Hourglass Capital LLC Makes New Investment in GSK PLC Sponsored ADR (NYSE:GSK)

Hourglass Capital LLC bought a new position in GSK PLC Sponsored ADR (NYSE:GSK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 118,169 shares of the pharmaceutical company's stock, valued at approximately $4,578,000.

A number of other large investors have also added to or reduced their stakes in the company. Beverly Hills Private Wealth LLC raised its stake in GSK by 12.6% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 33,098 shares of the pharmaceutical company's stock valued at $1,282,000 after purchasing an additional 3,701 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in GSK by 10.9% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 240,971 shares of the pharmaceutical company's stock valued at $9,335,000 after purchasing an additional 23,648 shares during the last quarter. Callan Capital LLC increased its stake in GSK by 38.3% in the first quarter. Callan Capital LLC now owns 13,401 shares of the pharmaceutical company's stock valued at $519,000 after purchasing an additional 3,714 shares during the last quarter. TD Private Client Wealth LLC grew its position in GSK by 160.8% in the 1st quarter. TD Private Client Wealth LLC now owns 7,109 shares of the pharmaceutical company's stock valued at $275,000 after buying an additional 4,383 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in GSK by 13.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 2,136,338 shares of the pharmaceutical company's stock valued at $82,762,000 after buying an additional 247,966 shares during the last quarter. 15.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on GSK. Hsbc Global Res upgraded GSK to a "strong sell" rating in a report on Monday, April 28th. BNP Paribas assumed coverage on GSK in a research note on Tuesday, April 15th. They set a "neutral" rating and a $35.25 price objective for the company. Wall Street Zen cut GSK from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Berenberg Bank reaffirmed a "hold" rating on shares of GSK in a research note on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $37.38.

GSK Price Performance

Shares of NYSE GSK traded up $0.30 during mid-day trading on Tuesday, hitting $38.49. 5,121,281 shares of the stock traded hands, compared to its average volume of 4,935,651. The company has a market cap of $78.80 billion, a PE ratio of 19.84, a price-to-earnings-growth ratio of 1.53 and a beta of 0.50. GSK PLC Sponsored ADR has a twelve month low of $31.72 and a twelve month high of $44.67. The firm has a 50 day simple moving average of $39.01 and a two-hundred day simple moving average of $37.17. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.87 and a quick ratio of 0.58.

GSK (NYSE:GSK - Get Free Report) last announced its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.08 by $0.05. GSK had a return on equity of 48.82% and a net margin of 9.89%. The firm had revenue of $10.06 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the previous year, the business earned $0.43 EPS. The company's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that GSK PLC Sponsored ADR will post 4.14 EPS for the current fiscal year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, May 16th will be paid a $0.4216 dividend. The ex-dividend date is Friday, May 16th. This is a boost from GSK's previous quarterly dividend of $0.39. This represents a $1.69 annualized dividend and a dividend yield of 4.38%. GSK's dividend payout ratio (DPR) is presently 87.11%.

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.