Oppenheimer & Co. Inc. Sells 4,230 Shares of GSK plc (NYSE:GSK)

Oppenheimer & Co. Inc. lowered its holdings in GSK plc (NYSE:GSK) by 6.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,441 shares of the pharmaceutical company’s stock after selling 4,230 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in GSK were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Equity Investment Corp raised its stake in GSK by 1.0% during the second quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock worth $132,178,000 after acquiring an additional 34,631 shares in the last quarter. BOKF NA grew its holdings in shares of GSK by 20.8% in the 2nd quarter. BOKF NA now owns 10,389 shares of the pharmaceutical company’s stock worth $400,000 after purchasing an additional 1,787 shares during the last quarter. American Century Companies Inc. increased its position in shares of GSK by 42.2% during the 2nd quarter. American Century Companies Inc. now owns 544,079 shares of the pharmaceutical company’s stock worth $20,947,000 after purchasing an additional 161,448 shares in the last quarter. Headlands Technologies LLC bought a new position in GSK during the 2nd quarter valued at about $1,183,000. Finally, Provident Investment Management Inc. boosted its position in GSK by 171.0% in the second quarter. Provident Investment Management Inc. now owns 17,670 shares of the pharmaceutical company’s stock valued at $680,000 after buying an additional 11,150 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Stock Up 1.3 %

NYSE GSK opened at $43.55 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92. The stock has a market capitalization of $90.26 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.66. The stock has a fifty day moving average of $41.14 and a 200-day moving average of $41.70.

GSK (NYSE:GSK) last issued its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.09. The company had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.49 billion. GSK had a net margin of 12.87% and a return on equity of 51.48%. On average, equities research analysts forecast that GSK plc will post 4.15 EPS for the current year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.3843 per share. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 annualized dividend and a dividend yield of 3.53%. GSK’s payout ratio is presently 54.71%.

Analysts Set New Price Targets

GSK has been the subject of several recent analyst reports. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research report on Thursday, June 20th. Jefferies Financial Group increased their target price on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $50.00.

GSK Company 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.