Envestnet Asset Management Inc. Raises Stake in GSK plc (NYSE:GSK)

Envestnet Asset Management Inc. lifted its stake in GSK plc (NYSE:GSK) by 0.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,049,575 shares of the pharmaceutical company’s stock after buying an additional 4,877 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of GSK worth $78,909,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. JTC Employer Solutions Trustee Ltd lifted its holdings in shares of GSK by 71.3% in the first quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock worth $909,063,000 after buying an additional 8,800,822 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of GSK by 10.6% in the fourth quarter. Fisher Asset Management LLC now owns 15,036,881 shares of the pharmaceutical company’s stock worth $557,267,000 after buying an additional 1,436,488 shares in the last quarter. Primecap Management Co. CA lifted its holdings in shares of GSK by 0.3% in the fourth quarter. Primecap Management Co. CA now owns 12,089,370 shares of the pharmaceutical company’s stock worth $448,032,000 after buying an additional 30,600 shares in the last quarter. Mondrian Investment Partners LTD lifted its holdings in shares of GSK by 37.8% in the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock worth $236,250,000 after buying an additional 1,512,442 shares in the last quarter. Finally, Equity Investment Corp lifted its holdings in shares of GSK by 1.0% in the second quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock worth $132,178,000 after buying an additional 34,631 shares in the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GSK shares. Barclays raised shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a research report on Thursday, June 20th. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. The Goldman Sachs Group assumed coverage on shares of GSK in a research report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Citigroup upgraded shares of GSK to a “strong-buy” rating in a research report on Monday, June 24th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, GSK currently has an average rating of “Buy” and an average target price of $50.00.

GSK Trading Down 2.3 %

Shares of GSK opened at $42.55 on Wednesday. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92. The company has a market cap of $88.18 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.41 and a beta of 0.66. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. The company’s fifty day simple moving average is $41.22 and its 200-day simple moving average is $41.70.

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

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be paid a $0.3843 dividend. This represents a $1.54 annualized dividend and a yield of 3.61%. The ex-dividend date is Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is currently 54.71%.

About GSK

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.