Oppenheimer & Co. Inc. Has $2.40 Million Position in GSK plc (NYSE:GSK)

Oppenheimer & Co. Inc. trimmed its position in GSK plc (NYSE:GSK) by 6.3% during the second quarter, HoldingsChannel.com reports. The fund owned 62,441 shares of the pharmaceutical company’s stock after selling 4,230 shares during the period. Oppenheimer & Co. Inc.’s holdings in GSK were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in GSK in the first quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK in the 2nd quarter valued at $37,000. Richardson Financial Services Inc. acquired a new stake in GSK during the 4th quarter worth $40,000. Newbridge Financial Services Group Inc. bought a new position in GSK during the first quarter worth about $49,000. Finally, PrairieView Partners LLC acquired a new position in GSK in the second quarter valued at about $47,000. Institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

GSK opened at $43.55 on Tuesday. 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 business’s 50-day simple moving average is $41.14 and its 200 day simple moving average is $41.70. The firm has a market capitalization of $90.26 billion, a PE ratio of 15.78, a PEG ratio of 1.41 and a beta of 0.66. GSK plc has a 52-week low of $33.67 and a 52-week high of $45.92.

GSK (NYSE:GSK) last released its earnings results 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. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GSK had a net margin of 12.87% and a return on equity of 51.48%. As a group, sell-side analysts expect that GSK plc will post 4.15 earnings per share for the current fiscal year.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be issued a $0.3843 dividend. This represents a $1.54 dividend on an annualized basis and a dividend yield of 3.53%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 16th. GSK’s dividend payout ratio is presently 54.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GSK. Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upgraded shares of GSK to a “hold” rating in a report on Tuesday, August 27th. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Finally, UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.