Transcend Capital Advisors LLC Lowers Stock Position in GSK plc (NYSE:GSK)

Transcend Capital Advisors LLC trimmed its position in shares of GSK plc (NYSE:GSKGet Rating) by 9.2% in the second quarter, HoldingsChannel reports. The institutional investor owned 5,312 shares of the pharmaceutical company’s stock after selling 536 shares during the period. Transcend Capital Advisors LLC’s holdings in GSK were worth $231,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. KG&L Capital Management LLC increased its stake in GSK by 0.8% during the first quarter. KG&L Capital Management LLC now owns 29,611 shares of the pharmaceutical company’s stock worth $1,290,000 after acquiring an additional 225 shares during the last quarter. Koss Olinger Consulting LLC grew its holdings in shares of GSK by 3.4% during the 1st quarter. Koss Olinger Consulting LLC now owns 7,299 shares of the pharmaceutical company’s stock worth $318,000 after purchasing an additional 242 shares during the period. Steel Peak Wealth Management LLC increased its position in GSK by 4.6% during the 1st quarter. Steel Peak Wealth Management LLC now owns 5,543 shares of the pharmaceutical company’s stock worth $241,000 after purchasing an additional 246 shares in the last quarter. Tsfg LLC increased its position in GSK by 67.9% during the 1st quarter. Tsfg LLC now owns 618 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 250 shares in the last quarter. Finally, Glassman Wealth Services raised its holdings in GSK by 71.3% in the fourth quarter. Glassman Wealth Services now owns 627 shares of the pharmaceutical company’s stock valued at $28,000 after buying an additional 261 shares during the period. 16.86% of the stock is owned by hedge funds and other institutional investors.

GSK Stock Performance

Shares of GSK opened at $29.77 on Thursday. The firm has a market cap of $60.54 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 1.17 and a beta of 0.61. The company has a quick ratio of 1.31, a current ratio of 1.43 and a debt-to-equity ratio of 0.83. The business’s 50 day moving average is $36.14 and its two-hundred day moving average is $41.00. GSK plc has a 52-week low of $29.73 and a 52-week high of $46.97.

GSK (NYSE:GSKGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The pharmaceutical company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.11. GSK had a net margin of 12.91% and a return on equity of 27.84%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $9.35 billion. Analysts forecast that GSK plc will post 3.23 EPS for the current fiscal year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 6th. Stockholders of record on Friday, August 19th will be given a dividend of $0.383 per share. This is a boost 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 dividend yield of 5.15%. GSK’s dividend payout ratio (DPR) is presently 50.66%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on GSK shares. Morgan Stanley dropped their price objective on shares of GSK from GBX 1,860 ($22.47) to GBX 1,550 ($18.73) in a research report on Wednesday, September 7th. StockNews.com cut GSK from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft lowered their target price on GSK from GBX 1,750 ($21.15) to GBX 1,500 ($18.12) in a research note on Wednesday, September 7th. TheStreet downgraded GSK from a “b” rating to a “c+” rating in a report on Monday, August 29th. Finally, Credit Suisse Group upgraded GSK from an “underperform” rating to a “neutral” rating in a report on Thursday, September 15th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, GSK currently has a consensus rating of “Hold” and a consensus target price of $1,700.00.

About GSK

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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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