Park Place Capital Corp Trims Holdings in GSK plc (NYSE:GSK)

Park Place Capital Corp reduced its stake in shares of GSK plc (NYSE:GSK) by 28.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,268 shares of the pharmaceutical company’s stock after selling 1,286 shares during the quarter. Park Place Capital Corp’s holdings in GSK were worth $126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GSK. JTC Employer Solutions Trustee Ltd lifted its position in GSK by 71.3% in 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 buying an additional 8,800,822 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in shares of GSK during the fourth quarter worth about $92,281,000. Armistice Capital LLC grew its stake in shares of GSK by 670.5% during the fourth 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. Mondrian Investment Partners LTD lifted its holdings 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 worth $236,250,000 after purchasing an additional 1,512,442 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of GSK by 10.8% during the fourth quarter. Fisher Asset Management LLC now owns 15,065,558 shares of the pharmaceutical company’s stock worth $558,330,000 after purchasing an additional 1,465,165 shares during the period. 15.74% of the stock is owned by hedge funds and other institutional investors.

GSK Trading Up 2.0 %

Shares of GSK stock traded up $0.78 during mid-day trading on Friday, hitting $40.42. 4,544,971 shares of the stock were exchanged, compared to its average volume of 2,895,574. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92. The stock has a market capitalization of $83.77 billion, a price-to-earnings ratio of 14.64, a price-to-earnings-growth ratio of 1.32 and a beta of 0.64. The company has a 50-day simple moving average of $40.26 and a 200 day simple moving average of $41.41. The company has a current ratio of 0.82, a quick ratio of 0.58 and a debt-to-equity ratio of 0.99.

GSK (NYSE:GSK) last released its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.15. GSK had a net margin of 12.87% and a return on equity of 51.48%. The company had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $8.98 billion. Research analysts forecast that GSK plc will post 4.22 EPS for the current year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.3843 per share. This is a positive change from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Friday, August 16th. GSK’s dividend payout ratio is presently 54.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GSK shares. The Goldman Sachs Group began coverage on GSK in a research report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price objective for the company. UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Citigroup raised GSK to a “strong-buy” rating in a research note on Monday, June 24th. Berenberg Bank upgraded shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. Finally, Jefferies Financial Group boosted their price target on shares of GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, GSK has an average rating of “Buy” and a consensus 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.