Mackenzie Financial Corp Purchases Shares of 154,205 GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Mackenzie Financial Corp has acquired a new position in GSK PLC, purchasing 154,205 shares valued at approximately $5.97 million during the first quarter.
• GSK recently reported a quarterly EPS of $1.23, exceeding expectations and achieving a 1.3% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.4206 per share, representing an annualized dividend yield of 4.5% while maintaining a payout ratio of 79.17%.

Mackenzie Financial Corp bought a new position in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 154,205 shares of the pharmaceutical company's stock, valued at approximately $5,974,000.

Other hedge funds have also recently bought and sold shares of the company. Richardson Financial Services Inc. grew its holdings in GSK by 127.9% during the first quarter. Richardson Financial Services Inc. now owns 841 shares of the pharmaceutical company's stock worth $33,000 after acquiring an additional 472 shares during the period. Olde Wealth Management LLC acquired a new position in GSK during the first quarter worth about $36,000. First Pacific Financial acquired a new position in GSK during the first quarter worth about $45,000. CX Institutional purchased a new position in GSK in the 1st quarter worth about $46,000. Finally, Garde Capital Inc. purchased a new stake in GSK during the first quarter valued at about $51,000. 15.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GSK has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of GSK to a "strong sell" rating in a report on Monday, April 28th. Wall Street Zen upgraded shares of GSK from a "hold" rating to a "buy" rating in a report on Sunday. Berenberg Bank reiterated a "hold" rating on shares of GSK in a report on Tuesday, June 3rd. Finally, BNP Paribas initiated coverage on shares of GSK in a report on Tuesday, April 15th. They issued a "neutral" rating and a $35.25 target price for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $37.38.

GSK Stock Up 1.0%

Shares of NYSE GSK traded up $0.38 during mid-day trading on Friday, reaching $37.53. The company had a trading volume of 3,676,989 shares, compared to its average volume of 6,291,426. The stock has a fifty day moving average of $38.96 and a two-hundred day moving average of $37.73. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.87. The company has a market capitalization of $76.57 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.64 and a beta of 0.51. GSK PLC Sponsored ADR has a 12-month low of $31.72 and a 12-month high of $44.67.

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

GSK Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 4.5%. The ex-dividend date of this dividend is Friday, August 15th. GSK's dividend payout ratio (DPR) 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.