Summit Trail Advisors LLC Boosts Position in GSK plc (NYSE:GSK)

Summit Trail Advisors LLC lifted its stake in shares of GSK plc (NYSE:GSK) by 37.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,473 shares of the pharmaceutical company’s stock after acquiring an additional 2,027 shares during the period. Summit Trail Advisors LLC’s holdings in GSK were worth $290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. JTC Employer Solutions Trustee Ltd raised its holdings in GSK by 71.3% in the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock valued at $909,063,000 after buying an additional 8,800,822 shares during the period. Fisher Asset Management LLC raised its holdings in GSK by 10.6% in the 4th quarter. Fisher Asset Management LLC now owns 15,036,881 shares of the pharmaceutical company’s stock valued at $557,267,000 after buying an additional 1,436,488 shares during the period. Primecap Management Co. CA raised its holdings in GSK by 13.9% in the 2nd quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock valued at $558,689,000 after buying an additional 1,773,020 shares during the period. Mondrian Investment Partners LTD raised its holdings in GSK by 37.8% in the 1st quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock valued at $236,250,000 after buying an additional 1,512,442 shares during the period. Finally, Equity Investment Corp raised its holdings in GSK by 1.0% in the 2nd quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock valued at $132,178,000 after buying an additional 34,631 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

Shares of GSK stock opened at $40.98 on Wednesday. GSK plc has a one year low of $33.67 and a one year high of $45.92. The company has a market cap of $84.93 billion, a PE ratio of 14.85, a P/E/G ratio of 1.41 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82. The business has a 50-day simple moving average of $41.47 and a 200-day simple moving average of $41.65.

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

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be paid a $0.3843 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a yield of 3.75%. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 54.71%.

Wall Street Analysts Forecast Growth

GSK has been the topic of several research analyst reports. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. Jefferies Financial Group lifted their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Citigroup raised GSK to a “strong-buy” rating in a research report on Monday, June 24th. The Goldman Sachs Group began coverage on GSK in a research report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, Barclays raised GSK to a “hold” rating in a research report on Tuesday, August 27th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $50.00.

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.