Legacy Financial Advisors Inc. Has $319,000 Stock Position in GSK plc (NYSE:GSK)

Legacy Financial Advisors Inc. lifted its stake in GSK plc (NYSE:GSK) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,280 shares of the pharmaceutical company’s stock after purchasing an additional 544 shares during the period. Legacy Financial Advisors Inc.’s holdings in GSK were worth $319,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GSK. Register Financial Advisors LLC bought a new position in GSK during the first quarter worth about $31,000. Ashton Thomas Private Wealth LLC acquired a new position in GSK during the second quarter valued at approximately $37,000. Richardson Financial Services Inc. bought a new stake in GSK in the fourth quarter valued at approximately $40,000. PrairieView Partners LLC bought a new stake in GSK in the second quarter valued at approximately $47,000. Finally, Triad Wealth Partners LLC acquired a new stake in GSK in the second quarter worth $49,000. Institutional investors own 15.74% of the company’s stock.

GSK Stock Down 2.0 %

GSK stock opened at $40.80 on Friday. The business has a 50-day moving average of $41.39 and a 200-day moving average of $41.69. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The stock has a market capitalization of $84.56 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.41 and a beta of 0.66. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54.

GSK (NYSE:GSK) last issued its quarterly earnings results 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 analysts’ expectations of $9.49 billion. GSK had a net margin of 12.87% and a return on equity of 51.48%. On average, sell-side analysts anticipate that GSK plc will post 4.15 earnings per share for the current fiscal year.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be given a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a yield of 3.77%. GSK’s payout ratio is 54.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citigroup raised shares of GSK to a “strong-buy” rating in a report on Monday, June 24th. Jefferies Financial Group boosted their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Argus raised GSK to a “strong-buy” rating in a research report on Wednesday, August 7th. Barclays upgraded GSK to a “hold” rating in a research report on Tuesday, August 27th. Finally, The Goldman Sachs Group assumed coverage on shares of GSK in a report on Thursday, May 30th. They set a “neutral” rating and a $47.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.