Hsbc Holdings PLC Sells 220,909 Shares of GSK plc (NYSE:GSK)

Hsbc Holdings PLC trimmed its stake in GSK plc (NYSE:GSK) by 5.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,552,119 shares of the pharmaceutical company’s stock after selling 220,909 shares during the period. Hsbc Holdings PLC owned 0.17% of GSK worth $138,177,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in shares of GSK in the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of GSK in the 2nd quarter worth $37,000. Richardson Financial Services Inc. bought a new position in shares of GSK in the 4th quarter worth $40,000. PrairieView Partners LLC acquired a new position in GSK during the 2nd quarter valued at about $47,000. Finally, Triad Wealth Partners LLC acquired a new position in GSK during the 2nd quarter valued at about $49,000. 15.74% of the stock is owned by institutional investors.

GSK Stock Down 0.3 %

GSK stock opened at $42.43 on Thursday. 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’s 50-day simple moving average is $41.30 and its two-hundred day simple moving average is $41.71. The company has a market cap of $87.94 billion, a PE ratio of 15.37, a PEG ratio of 1.41 and a beta of 0.66. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92.

GSK (NYSE:GSK) last posted its quarterly 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. The business had revenue of $9.95 billion for 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%. Equities analysts anticipate that GSK plc will post 4.15 EPS for the current year.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be paid a $0.3843 dividend. This is an increase 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 dividend on an annualized basis and a dividend yield of 3.62%. GSK’s dividend payout ratio is presently 54.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Berenberg Bank raised GSK to a “strong-buy” rating in a research report on Thursday, June 20th. The Goldman Sachs Group assumed coverage on GSK in a research report on Thursday, May 30th. They set a “neutral” rating and a $47.00 target price on the stock. Argus raised GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group upped 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. Finally, UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GSK currently has a consensus rating of “Buy” and an average target price of $50.00.

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.