Frank Rimerman Advisors LLC Invests $822,000 in GSK plc (NYSE:GSK)

Frank Rimerman Advisors LLC acquired a new stake in shares of GSK plc (NYSE:GSK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 21,359 shares of the pharmaceutical company’s stock, valued at approximately $822,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JTC Employer Solutions Trustee Ltd boosted its stake in shares of 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 valued at $909,063,000 after purchasing an additional 8,800,822 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in GSK during the 4th quarter worth approximately $92,281,000. Armistice Capital LLC grew its holdings in GSK by 670.5% during the 4th quarter. Armistice Capital LLC now owns 2,196,000 shares of the pharmaceutical company’s stock worth $81,384,000 after acquiring an additional 1,911,000 shares during the last quarter. Primecap Management Co. CA increased its position 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 acquiring an additional 1,773,020 shares during the period. Finally, Mondrian Investment Partners LTD raised its stake in shares of GSK by 37.8% during 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 last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

Shares of GSK opened at $40.86 on Tuesday. GSK plc has a 52 week low of $33.67 and a 52 week high of $45.92. 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 stock has a 50 day moving average price of $41.43 and a two-hundred day moving average price of $41.66. The firm has a market capitalization of $84.67 billion, a P/E ratio of 14.80, a P/E/G ratio of 1.41 and a beta of 0.66.

GSK (NYSE:GSK) last issued its quarterly earnings data 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 return on equity of 51.48% and a net margin of 12.87%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Equities analysts forecast 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. Stockholders of record on Friday, August 16th will be paid a dividend of $0.3843 per share. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.76%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. GSK’s payout ratio is presently 54.71%.

Analysts Set New Price Targets

GSK has been the topic of several recent research reports. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Citigroup raised shares of GSK to a “strong-buy” rating in a research report on Monday, June 24th. Jefferies Financial Group raised their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. The Goldman Sachs Group began coverage on GSK in a research note on Thursday, May 30th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, Argus raised GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, GSK presently 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.