Trust Co. of Toledo NA OH Boosts Stake in GSK plc (NYSE:GSK)

Trust Co. of Toledo NA OH raised its holdings in GSK plc (NYSE:GSK) by 6.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,679 shares of the pharmaceutical company’s stock after acquiring an additional 2,015 shares during the period. Trust Co. of Toledo NA OH’s holdings in GSK were worth $1,336,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Register Financial Advisors LLC bought a new stake in GSK during the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new stake in GSK during the second quarter valued at about $37,000. Richardson Financial Services Inc. bought a new stake in GSK during the fourth quarter worth about $40,000. PrairieView Partners LLC purchased a new stake in GSK in the second quarter worth approximately $47,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of GSK during the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Insider Buying and Selling at GSK

In other news, major shareholder Plc Gsk bought 2,791,930 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the purchase, the insider now directly owns 16,775,691 shares in the company, valued at approximately $134,205,528. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.00% of the company’s stock.

Wall Street Analyst Weigh In

GSK has been the topic of several recent research reports. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a report on Thursday, June 20th. UBS Group lowered shares of GSK from a “buy” rating to a “neutral” rating in a research report on Monday, July 8th. Argus upgraded GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group increased their target price on GSK from $52.50 to $53.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Citigroup raised GSK to a “strong-buy” rating in a research note on Monday, June 24th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $50.00.

GSK Trading Down 2.7 %

NYSE GSK opened at $38.37 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54 and a current ratio of 0.82. 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 cap of $79.52 billion, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. The stock has a 50 day simple moving average of $41.59 and a two-hundred day simple moving average of $41.53.

GSK (NYSE:GSK) last released its quarterly 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. GSK had a net margin of 12.87% and a return on equity of 51.48%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.49 billion. On average, analysts forecast that GSK plc will post 4.17 earnings per share for the current year.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be paid a $0.3843 dividend. This is an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Friday, August 16th. GSK’s dividend payout ratio is presently 54.71%.

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.