Legacy Financial Advisors Inc. Acquires 544 Shares of GSK plc (NYSE:GSK)

Legacy Financial Advisors Inc. lifted its holdings in shares of GSK plc (NYSE:GSK) by 7.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 8,280 shares of the pharmaceutical company’s stock after acquiring an additional 544 shares during the period. Legacy Financial Advisors Inc.’s holdings in GSK were worth $319,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GSK. JTC Employer Solutions Trustee Ltd lifted its stake in GSK by 71.3% during 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 purchasing an additional 8,800,822 shares during the period. Fisher Asset Management LLC lifted its position in shares of GSK by 10.6% during the 4th 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 during the period. Primecap Management Co. CA boosted its stake 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 in the last quarter. Mondrian Investment Partners LTD grew its position in GSK by 37.8% in the first quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock valued at $236,250,000 after acquiring an additional 1,512,442 shares during the period. Finally, 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. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Price Performance

GSK opened at $40.80 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54. The company’s 50 day simple moving average is $41.39 and its 200-day simple moving average is $41.69. GSK plc has a one year low of $33.67 and a one year high of $45.92. The stock has a market capitalization of $84.56 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.66.

GSK (NYSE:GSK) last released its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The company had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Sell-side analysts anticipate that GSK plc will post 4.15 earnings per share for the current fiscal 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. The ex-dividend date is Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 3.77%. GSK’s dividend payout ratio is presently 54.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GSK. The Goldman Sachs Group assumed coverage on shares of GSK in a report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 target price on the stock. UBS Group cut shares of GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Argus raised shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Finally, Jefferies Financial Group raised their price target on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Four investment 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. According to data from MarketBeat, GSK has a consensus rating of “Buy” and an average 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.