US Bancorp DE Purchases 9,473 Shares of GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• US Bancorp DE increased its stake in GSK PLC by 5.9% during the first quarter, bringing its total holdings to approximately $6.62 million.
• GSK's stock fell by 0.9% during midday trading, with a market capitalization of $76.18 billion and a current P/E ratio of 17.29.
• The company recently announced a quarterly dividend of $0.4206 per share, reflecting an annualized amount of $1.68 and a yield of 4.5%.

US Bancorp DE boosted its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 170,871 shares of the pharmaceutical company's stock after acquiring an additional 9,473 shares during the period. US Bancorp DE's holdings in GSK were worth $6,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC raised its stake in shares of GSK by 222.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 667 shares of the pharmaceutical company's stock valued at $26,000 after purchasing an additional 460 shares during the period. Richardson Financial Services Inc. raised its stake in shares of GSK by 127.9% in the 1st quarter. Richardson Financial Services Inc. now owns 841 shares of the pharmaceutical company's stock valued at $33,000 after purchasing an additional 472 shares during the period. Olde Wealth Management LLC acquired a new stake in shares of GSK in the 1st quarter valued at about $36,000. First Pacific Financial acquired a new stake in shares of GSK in the 1st quarter valued at about $45,000. Finally, CX Institutional acquired a new stake in shares of GSK in the 1st quarter valued at about $46,000. 15.74% of the stock is currently owned by institutional investors.

GSK Stock Up 2.3%

Shares of NYSE:GSK traded up $0.85 during midday trading on Thursday, reaching $37.60. The company had a trading volume of 3,709,266 shares, compared to its average volume of 5,314,797. The company has a quick ratio of 0.57, a current ratio of 0.87 and a debt-to-equity ratio of 1.07. The business's 50 day moving average price is $38.85 and its 200 day moving average price is $37.75. The stock has a market cap of $76.71 billion, a PE ratio of 17.41, a P/E/G ratio of 1.63 and a beta of 0.51. GSK PLC Sponsored ADR has a 1-year low of $31.72 and a 1-year high of $44.67.

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

GSK Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Friday, August 15th will be issued a dividend of $0.4206 per share. The ex-dividend date is Friday, August 15th. This represents a $1.68 dividend on an annualized basis and a yield of 4.5%. GSK's dividend payout ratio (DPR) is presently 77.78%.

Analysts Set New Price Targets

Several research firms have issued reports on GSK. BNP Paribas began coverage on GSK in a research note on Tuesday, April 15th. They issued a "neutral" rating and a $35.25 price target on the stock. Berenberg Bank reissued a "hold" rating on shares of GSK in a research note on Tuesday, June 3rd. Wall Street Zen raised GSK from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Hsbc Global Res raised GSK to a "strong sell" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $37.38.

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.