Hsbc Holdings PLC Lowers Stock Holdings in GSK plc (NYSE:GSK)

Hsbc Holdings PLC lowered its holdings in shares of GSK plc (NYSE:GSK) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,552,119 shares of the pharmaceutical company’s stock after selling 220,909 shares during the quarter. Hsbc Holdings PLC’s holdings in GSK were worth $138,177,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cohen Investment Advisors LLC acquired a new position in shares of GSK during the second quarter valued at approximately $349,000. Blair William & Co. IL raised its holdings in shares of GSK by 14.9% during the first quarter. Blair William & Co. IL now owns 23,493 shares of the pharmaceutical company’s stock valued at $1,007,000 after acquiring an additional 3,044 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of GSK during the fourth quarter valued at approximately $1,129,000. SG Americas Securities LLC increased its holdings in shares of GSK by 448.7% in the first quarter. SG Americas Securities LLC now owns 17,690 shares of the pharmaceutical company’s stock valued at $758,000 after purchasing an additional 14,466 shares during the last quarter. Finally, CreativeOne Wealth LLC acquired a new stake in shares of GSK in the first quarter valued at approximately $235,000. Institutional investors and hedge funds own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

GSK has been the subject of several recent research reports. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. Berenberg Bank raised GSK to a “strong-buy” rating in a report on Thursday, June 20th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. The Goldman Sachs Group initiated coverage on GSK in a report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Four 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $50.00.

GSK Trading Down 0.3 %

Shares of GSK stock opened at $42.43 on Thursday. The firm has a market capitalization of $87.94 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 1.41 and a beta of 0.66. GSK plc has a fifty-two week low of $33.67 and a fifty-two 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 of $41.30 and a 200 day moving average of $41.71.

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, topping the consensus estimate of $1.00 by $0.09. The company had revenue of $9.95 billion during the quarter, compared to analyst estimates of $9.49 billion. GSK had a return on equity of 51.48% and a net margin of 12.87%. As a group, research analysts predict that GSK plc will post 4.15 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 given a $0.3843 dividend. This represents a $1.54 annualized dividend and a yield of 3.62%. This is a positive change from GSK’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 16th. GSK’s dividend payout ratio is presently 54.71%.

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.