Park Place Capital Corp Sells 394 Shares of GSK plc (NYSE:GSK)

Park Place Capital Corp trimmed its holdings in shares of GSK plc (NYSE:GSK) by 12.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,874 shares of the pharmaceutical company’s stock after selling 394 shares during the period. Park Place Capital Corp’s holdings in GSK were worth $117,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Register Financial Advisors LLC bought a new stake in shares of GSK during the first quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new position in GSK during the second quarter valued at approximately $37,000. Richardson Financial Services Inc. acquired a new position in GSK during the fourth quarter valued at approximately $40,000. PrairieView Partners LLC acquired a new position in GSK during the second quarter valued at approximately $47,000. Finally, Triad Wealth Partners LLC acquired a new position in GSK during the second quarter valued at approximately $49,000. 15.74% of the stock is owned by institutional investors.

GSK Stock Performance

NYSE GSK opened at $38.03 on Wednesday. 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 firm’s fifty day moving average price is $41.54 and its two-hundred day moving average price is $41.47. GSK plc has a 1 year low of $33.67 and a 1 year high of $45.92. The firm has a market capitalization of $78.82 billion, a P/E ratio of 13.78, a price-to-earnings-growth ratio of 1.31 and a beta of 0.65.

GSK (NYSE:GSK) last posted its quarterly earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.95 billion for the quarter, compared to analyst estimates of $9.49 billion. As a group, research analysts anticipate that GSK plc will post 4.17 EPS for the current year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be given a $0.3843 dividend. The ex-dividend date of this dividend is Friday, August 16th. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 4.04%. GSK’s dividend payout ratio is presently 54.71%.

Insider Activity

In related news, major shareholder Plc Gsk acquired 2,791,930 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were bought at an average cost of $8.00 per share, with a total value of $22,335,440.00. Following the completion of the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Citigroup upgraded shares of GSK to a “strong-buy” rating in a report on Monday, June 24th. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Finally, Argus upgraded 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.