Townsquare Capital LLC Has $3.96 Million Stock Position in GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Townsquare Capital LLC increased its holdings in GSK PLC by 18.8%, acquiring an additional 16,165 shares, bringing its total to 102,180 shares valued at approximately $3.96 million.
• GSK reported a quarterly earnings per share of $1.23, surpassing analysts' expectations of $1.12, and achieved a net revenue of $10.64 billion, which was significantly higher than the forecast of $7.92 billion.
• The company announced a quarterly dividend of $0.4206 per share, representing an annualized dividend yield of 4.5%, despite a payout ratio of 79.17%.

Townsquare Capital LLC increased its stake in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,180 shares of the pharmaceutical company's stock after purchasing an additional 16,165 shares during the period. Townsquare Capital LLC's holdings in GSK were worth $3,958,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GSK. Brighton Jones LLC purchased a new position in GSK in the 4th quarter worth about $528,000. Stamos Capital Partners L.P. increased its holdings in shares of GSK by 42.3% during the 4th quarter. Stamos Capital Partners L.P. now owns 294,820 shares of the pharmaceutical company's stock valued at $9,971,000 after purchasing an additional 87,630 shares in the last quarter. First Hawaiian Bank increased its holdings in GSK by 18.8% in the 1st quarter. First Hawaiian Bank now owns 101,039 shares of the pharmaceutical company's stock worth $3,914,000 after acquiring an additional 15,987 shares in the last quarter. Forum Financial Management LP grew its holdings in shares of GSK by 167.9% during the fourth quarter. Forum Financial Management LP now owns 13,397 shares of the pharmaceutical company's stock worth $453,000 after buying an additional 8,396 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of GSK by 84.2% in the fourth quarter. Barclays PLC now owns 49,628 shares of the pharmaceutical company's stock valued at $1,678,000 after purchasing an additional 22,689 shares during the period. 15.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GSK. Hsbc Global Res raised shares of GSK to a "strong sell" rating in a research note on Monday, April 28th. BNP Paribas started coverage on shares of GSK in a research note on Tuesday, April 15th. They issued 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 report on Sunday, August 3rd. Finally, Berenberg Bank reaffirmed a "hold" rating on shares of GSK in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $37.38.

GSK Price Performance

GSK stock traded up $0.98 during trading on Wednesday, hitting $39.20. The company had a trading volume of 3,493,212 shares, compared to its average volume of 5,255,443. The company has a current ratio of 0.87, a quick ratio of 0.57 and a debt-to-equity ratio of 1.07. GSK PLC Sponsored ADR has a fifty-two week low of $31.72 and a fifty-two week high of $44.67. The company has a market cap of $79.94 billion, a P/E ratio of 18.15, a P/E/G ratio of 1.64 and a beta of 0.51. The company has a fifty day moving average price of $38.61 and a two-hundred day moving average price of $37.89.

GSK (NYSE:GSK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) 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 company had revenue of $10.64 billion during the quarter, compared to the consensus estimate of $7.92 billion. During the same period in the prior year, the company earned $0.43 earnings per share. The company's revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts expect that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current fiscal year.

GSK Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Friday, August 15th will be paid a $0.4206 dividend. The ex-dividend date is Friday, August 15th. This represents a $1.68 annualized dividend and a dividend yield of 4.3%. GSK's dividend payout ratio (DPR) is presently 77.78%.

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.