Primecap Management Co. CA Grows Holdings in GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Primecap Management Co. CA increased its holdings in GSK PLC by 1.8%, owning approximately 25.7 million shares worth nearly $996 million.
• GSK reported quarterly earnings of $1.23 EPS, surpassing analysts' estimates, with revenue of $10.64 billion compared to a forecast of $7.92 billion.
• The company announced a quarterly dividend of $0.4206 per share, reflecting a 4.5% yield, despite a high dividend payout ratio of 79.17%.

Primecap Management Co. CA increased its stake in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,708,020 shares of the pharmaceutical company's stock after purchasing an additional 446,360 shares during the quarter. Primecap Management Co. CA owned 1.25% of GSK worth $995,929,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its stake in GSK by 1.8% during the first quarter. Kingsview Wealth Management LLC now owns 15,227 shares of the pharmaceutical company's stock worth $590,000 after purchasing an additional 271 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of GSK by 4.6% in the first quarter. Rehmann Capital Advisory Group now owns 6,407 shares of the pharmaceutical company's stock valued at $248,000 after buying an additional 279 shares in the last quarter. First PREMIER Bank boosted its position in shares of GSK by 6.5% during the 1st quarter. First PREMIER Bank now owns 4,659 shares of the pharmaceutical company's stock worth $181,000 after purchasing an additional 286 shares in the last quarter. Northwest Bank & Trust Co grew its position in GSK by 1.3% during the fourth quarter. Northwest Bank & Trust Co now owns 22,405 shares of the pharmaceutical company's stock worth $765,000 after buying an additional 289 shares during the period. Finally, OneAscent Financial Services LLC increased its stake in GSK by 3.9% in the 1st quarter. OneAscent Financial Services LLC now owns 7,700 shares of the pharmaceutical company's stock valued at $297,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company's stock.

GSK Trading Up 0.5%

Shares of GSK stock traded up $0.21 during trading hours on Friday, reaching $37.79. 480,744 shares of the company's stock were exchanged, compared to its average volume of 5,281,183. GSK PLC Sponsored ADR has a 52-week low of $31.72 and a 52-week high of $44.67. The company has a fifty day moving average of $38.80 and a 200-day moving average of $37.78. 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 firm has a market capitalization of $77.09 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 1.60 and a beta of 0.51.

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

GSK Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.4206 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, August 15th. GSK's payout ratio is currently 79.17%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BNP Paribas began coverage on shares of GSK in a research report on Tuesday, April 15th. They set a "neutral" rating and a $35.25 target price for the company. Wall Street Zen upgraded GSK from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. Hsbc Global Res upgraded GSK to a "strong sell" rating in a report on Monday, April 28th. Finally, Berenberg Bank reissued 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 assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, GSK currently has an average rating of "Hold" and a consensus target price of $37.38.

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.