Miracle Mile Advisors LLC Has $388,000 Position in GSK plc (NYSE:GSK)

Miracle Mile Advisors LLC lessened its position in GSK plc (NYSE:GSK) by 7.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,501 shares of the pharmaceutical company’s stock after selling 799 shares during the period. Miracle Mile Advisors LLC’s holdings in GSK were worth $388,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. JTC Employer Solutions Trustee Ltd grew its position in GSK by 71.3% during the 1st quarter. JTC Employer Solutions Trustee Ltd now owns 21,141,012 shares of the pharmaceutical company’s stock worth $909,063,000 after acquiring an additional 8,800,822 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of GSK by 13.9% during the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after purchasing an additional 1,773,020 shares during the last quarter. Mondrian Investment Partners LTD increased its stake in shares of 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 buying an additional 1,512,442 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of GSK by 10.6% in the fourth 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 last quarter. Finally, Acadian Asset Management LLC lifted its position in GSK by 180.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,219,798 shares of the pharmaceutical company’s stock worth $95,129,000 after buying an additional 1,426,935 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of 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 stock has a market cap 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. The stock’s 50-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.

GSK (NYSE:GSK) last issued its quarterly earnings data 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. GSK had a net margin of 12.87% and a return on equity of 51.48%. The firm had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.49 billion. On average, equities analysts predict that GSK plc will post 4.17 earnings per share for the current year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.3843 per share. This represents a $1.54 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Friday, August 16th. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s dividend payout ratio (DPR) is presently 54.71%.

Insiders Place Their Bets

In other GSK news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction on Friday, September 27th. The stock was bought at an average cost of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now directly owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

GSK has been the subject of a number of research reports. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Berenberg Bank raised GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group upped their target price on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research 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 assigned a strong buy rating to the stock. According to MarketBeat, GSK currently has a consensus rating of “Buy” and a consensus price target 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.