Summit Trail Advisors LLC Grows Stock Position in GSK plc (NYSE:GSK)

Summit Trail Advisors LLC lifted its stake in shares of GSK plc (NYSE:GSK) by 37.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 7,473 shares of the pharmaceutical company’s stock after buying an additional 2,027 shares during the quarter. Summit Trail Advisors LLC’s holdings in GSK were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the stock. Sei Investments Co. grew its holdings in GSK by 3.1% during the second quarter. Sei Investments Co. now owns 831,592 shares of the pharmaceutical company’s stock worth $32,017,000 after acquiring an additional 24,658 shares during the period. AE Wealth Management LLC grew its holdings in GSK by 4.3% during the second quarter. AE Wealth Management LLC now owns 19,869 shares of the pharmaceutical company’s stock worth $765,000 after acquiring an additional 815 shares during the period. Waters Parkerson & CO. LLC grew its holdings in GSK by 5.4% during the second quarter. Waters Parkerson & CO. LLC now owns 18,780 shares of the pharmaceutical company’s stock worth $723,000 after acquiring an additional 962 shares during the period. XTX Topco Ltd acquired a new position in GSK during the second quarter worth $1,101,000. Finally, Optimist Retirement Group LLC grew its holdings in GSK by 10.6% during the second quarter. Optimist Retirement Group LLC now owns 47,764 shares of the pharmaceutical company’s stock worth $1,839,000 after acquiring an additional 4,581 shares during the period. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Jefferies Financial Group upped 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. The Goldman Sachs Group assumed coverage on GSK in a report on Thursday, May 30th. They issued a “neutral” rating and a $47.00 target price on the stock. UBS Group lowered GSK from a “buy” rating to a “neutral” rating in a report on Monday, July 8th. Barclays raised GSK to a “hold” rating in a report on Tuesday, August 27th. Finally, Citigroup raised GSK to a “strong-buy” rating in a research note on Monday, June 24th. Four research 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, GSK currently has an average rating of “Buy” and an average target price of $50.00.

GSK Stock Performance

NYSE GSK opened at $40.98 on Wednesday. The business’s 50-day moving average price is $41.47 and its 200 day moving average price is $41.65. GSK plc has a twelve month low of $33.67 and a twelve month high of $45.92. The company has a market capitalization of $84.93 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.41 and a beta of 0.66. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99.

GSK (NYSE:GSK) last released its 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. GSK had a return on equity of 51.48% and a net margin of 12.87%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.49 billion. On average, research analysts predict that GSK plc will post 4.15 earnings per share for the current year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 an increase from GSK’s previous quarterly dividend of $0.38. This represents a $1.54 annualized dividend and a yield of 3.75%. GSK’s dividend payout ratio is 54.71%.

GSK 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.