Anchor Investment Management LLC Cuts Stock Position in GSK plc (NYSE:GSK)

Anchor Investment Management LLC lessened its holdings in GSK plc (NYSE:GSK) by 1.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 48,637 shares of the pharmaceutical company’s stock after selling 950 shares during the quarter. Anchor Investment Management LLC’s holdings in GSK were worth $1,873,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. JTC Employer Solutions Trustee Ltd increased its stake in GSK by 71.3% in the 1st 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 in the last quarter. Fisher Asset Management LLC increased its holdings in shares of GSK by 10.6% in the fourth quarter. Fisher Asset Management LLC now owns 15,036,881 shares of the pharmaceutical company’s stock worth $557,267,000 after purchasing an additional 1,436,488 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of GSK by 13.9% in the second quarter. Primecap Management Co. CA now owns 14,511,390 shares of the pharmaceutical company’s stock worth $558,689,000 after purchasing an additional 1,773,020 shares during the last quarter. Mondrian Investment Partners LTD increased its holdings in shares of GSK by 37.8% in 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 last quarter. Finally, Equity Investment Corp increased its holdings in shares of GSK by 1.0% in the second quarter. Equity Investment Corp now owns 3,433,202 shares of the pharmaceutical company’s stock worth $132,178,000 after purchasing an additional 34,631 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Trading Down 2.7 %

Shares of NYSE GSK opened at $38.37 on Friday. The business’s 50 day moving average is $41.59 and its two-hundred day moving average is $41.53. 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 plc has a 1-year low of $33.67 and a 1-year high of $45.92. The stock has a market capitalization of $79.52 billion, a P/E ratio of 13.90, a PEG ratio of 1.31 and a beta of 0.66.

GSK (NYSE:GSK) last announced its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share (EPS) 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 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 expect that GSK plc will post 4.17 EPS for the current year.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be issued a $0.3843 dividend. 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. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.01%. GSK’s payout ratio is presently 54.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GSK shares. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Citigroup raised GSK to a “strong-buy” rating in a report on Monday, June 24th. UBS Group cut GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Argus raised GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Finally, Berenberg Bank raised GSK to a “strong-buy” rating in a report on Thursday, June 20th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $50.00.

Insider Activity at GSK

In other news, major shareholder Plc Gsk purchased 2,791,930 shares of the stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the completion of the acquisition, the insider now owns 16,775,691 shares of the company’s stock, valued at $134,205,528. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 10.00% of the stock is owned by company insiders.

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.