Brookstone Capital Management Raises Holdings in GSK plc (NYSE:GSK)

Brookstone Capital Management raised its position in GSK plc (NYSE:GSKGet Rating) by 147.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 49,703 shares of the pharmaceutical company’s stock after purchasing an additional 29,622 shares during the period. Brookstone Capital Management’s holdings in GSK were worth $2,104,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thrive Wealth Management LLC lifted its stake in shares of GSK by 152.2% in the second quarter. Thrive Wealth Management LLC now owns 13,370 shares of the pharmaceutical company’s stock worth $582,000 after buying an additional 8,069 shares in the last quarter. Greylin Investment Mangement Inc. grew its position in shares of GSK by 86.2% in the second quarter. Greylin Investment Mangement Inc. now owns 38,155 shares of the pharmaceutical company’s stock valued at $1,661,000 after purchasing an additional 17,665 shares in the last quarter. Stonnington Group LLC lifted its position in GSK by 187.9% during the second quarter. Stonnington Group LLC now owns 20,150 shares of the pharmaceutical company’s stock worth $873,000 after buying an additional 13,150 shares in the last quarter. Green Alpha Advisors LLC purchased a new position in GSK during the second quarter worth approximately $3,343,000. Finally, AdvisorNet Financial Inc boosted its stake in GSK by 5.5% during the second quarter. AdvisorNet Financial Inc now owns 25,436 shares of the pharmaceutical company’s stock worth $1,107,000 after buying an additional 1,324 shares during the last quarter. Hedge funds and other institutional investors own 16.86% of the company’s stock.

GSK Stock Performance

Shares of GSK stock opened at $30.49 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.31 and a current ratio of 1.43. The firm has a market cap of $62.01 billion, a P/E ratio of 10.10, a P/E/G ratio of 1.17 and a beta of 0.61. The firm’s 50 day moving average price is $36.65 and its 200-day moving average price is $41.16. GSK plc has a one year low of $30.26 and a one year high of $46.97.

GSK (NYSE:GSKGet Rating) last announced its earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.11. GSK had a return on equity of 27.84% and a net margin of 12.91%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $9.35 billion. As a group, equities research analysts predict that GSK plc will post 3.24 EPS for the current year.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, August 19th will be paid a dividend of $0.383 per share. This is a positive change from GSK’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, August 18th. This represents a $1.53 annualized dividend and a yield of 5.02%. GSK’s dividend payout ratio is presently 50.66%.

Analysts Set New Price Targets

GSK has been the topic of several analyst reports. Citigroup reiterated a “neutral” rating on shares of GSK in a report on Thursday, July 21st. Credit Suisse Group upgraded shares of GSK from an “underperform” rating to a “neutral” rating in a report on Thursday, September 15th. AlphaValue cut shares of GSK to a “reduce” rating in a research note on Tuesday, July 19th. Morgan Stanley reduced their price target on shares of GSK from GBX 1,860 ($22.47) to GBX 1,550 ($18.73) in a research report on Wednesday, September 7th. Finally, UBS Group lowered their price objective on GSK from GBX 1,876 ($22.67) to GBX 1,850 ($22.35) in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $1,700.00.

GSK Company Profile

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GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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