LPL Financial LLC Increases Holdings in GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• LPL Financial LLC increased its stake in GSK PLC by 11.8%, owning a total of 673,814 shares valued at approximately $26.1 million.
• GSK recently reported quarterly earnings of $1.23 EPS, exceeding expectations, with revenue reaching $10.64 billion, a year-over-year increase of 1.3%.
• The company's dividend yield stands at 4.5% with a recent quarterly dividend of $0.4206 per share, reflecting a dividend payout ratio of 79.17%.

LPL Financial LLC raised its stake in GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 11.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 673,814 shares of the pharmaceutical company's stock after buying an additional 70,929 shares during the period. LPL Financial LLC's holdings in GSK were worth $26,104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Richardson Financial Services Inc. grew its position in shares of 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 bought a new stake in shares of GSK during the first quarter valued at approximately $36,000. First Pacific Financial acquired a new stake in GSK in the 1st quarter valued at $45,000. CX Institutional bought a new stake in GSK during the 1st quarter valued at $46,000. Finally, Garde Capital Inc. bought a new position in shares of GSK in the first quarter valued at $51,000. Institutional investors and hedge funds own 15.74% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Hsbc Global Res upgraded GSK to a "strong sell" rating in a report on Monday, April 28th. Wall Street Zen raised GSK from a "hold" rating to a "buy" rating in a research report on Sunday. Berenberg Bank reiterated a "hold" rating on shares of GSK in a research note on Tuesday, June 3rd. Finally, BNP Paribas assumed coverage on shares of GSK in a report on Tuesday, April 15th. They set a "neutral" rating and a $35.25 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.38.

GSK Price Performance

Shares of NYSE:GSK traded down $0.54 on Wednesday, reaching $36.79. The company's stock had a trading volume of 3,121,317 shares, compared to its average volume of 6,176,731. The company has a 50-day simple moving average of $38.90 and a 200 day simple moving average of $37.75. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.87. GSK PLC Sponsored ADR has a 52-week low of $31.72 and a 52-week high of $44.67. The company has a market cap of $75.05 billion, a P/E ratio of 17.03, a PEG ratio of 1.63 and a beta of 0.51.

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 for the quarter, topping the consensus estimate of $1.12 by $0.11. GSK had a return on equity of 49.22% and a net margin of 10.81%. The firm had revenue of $10.64 billion for the quarter, compared to the consensus estimate of $7.92 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts anticipate that GSK PLC Sponsored ADR will post 4.14 EPS for the current fiscal year.

GSK Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Friday, August 15th will be paid a $0.4206 dividend. 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 4.6%. GSK's dividend payout ratio (DPR) is currently 79.17%.

GSK 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.