Acadian Asset Management LLC Acquires 1,426,935 Shares of GSK plc (NYSE:GSK)

Acadian Asset Management LLC increased its holdings in GSK plc (NYSE:GSK) by 180.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,219,798 shares of the pharmaceutical company’s stock after acquiring an additional 1,426,935 shares during the quarter. Acadian Asset Management LLC’s holdings in GSK were worth $95,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of 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 valued at $909,063,000 after purchasing an additional 8,800,822 shares during the last quarter. Fisher Asset Management LLC grew its position in GSK by 10.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,065,558 shares of the pharmaceutical company’s stock valued at $558,330,000 after purchasing an additional 1,465,165 shares during the last quarter. Primecap Management Co. CA grew its position in GSK by 0.3% during the 4th quarter. Primecap Management Co. CA now owns 12,089,370 shares of the pharmaceutical company’s stock valued at $448,032,000 after purchasing an additional 30,600 shares during the last quarter. Mondrian Investment Partners LTD grew its position in GSK by 37.8% during the 1st quarter. Mondrian Investment Partners LTD now owns 5,510,840 shares of the pharmaceutical company’s stock valued at $236,250,000 after purchasing an additional 1,512,442 shares during the last quarter. Finally, Provident Trust Co. grew its position in GSK by 53.6% during the 4th quarter. Provident Trust Co. now owns 3,716,830 shares of the pharmaceutical company’s stock valued at $137,746,000 after purchasing an additional 1,297,385 shares during the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.

GSK Stock Performance

Shares of NYSE GSK traded down $0.01 during trading on Friday, reaching $39.35. 1,993,996 shares of the company traded hands, compared to its average volume of 3,338,767. The firm has a 50 day simple moving average of $41.38 and a 200-day simple moving average of $41.43. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $81.55 billion, a PE ratio of 14.26, a P/E/G ratio of 1.20 and a beta of 0.64. GSK plc has a 52-week low of $33.67 and a 52-week high of $45.92.

GSK (NYSE:GSK) last announced its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.15. GSK had a net margin of 14.62% and a return on equity of 51.54%. The firm had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $8.98 billion. Equities research analysts anticipate that GSK plc will post 4.11 earnings per share for the current year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Friday, May 17th were paid a $0.3762 dividend. This represents a $1.50 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Thursday, May 16th. This is a boost from GSK’s previous quarterly dividend of $0.36. GSK’s dividend payout ratio is 54.71%.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of GSK in a research report on Thursday, May 30th. They set a “neutral” rating and a $47.00 price objective on the stock. UBS Group downgraded shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. Jefferies Financial Group raised their price target on shares of GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Citigroup raised shares of GSK to a “strong-buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, GSK presently has an average rating of “Buy” and an average price target of $50.00.

GSK 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.