New Wave Wealth Advisors LLC Makes New Investment in GSK plc (NYSE:GSK)

New Wave Wealth Advisors LLC bought a new position in shares of GSK plc (NYSE:GSK) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 9,268 shares of the pharmaceutical company’s stock, valued at approximately $357,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in shares of GSK in the first quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in GSK during the 2nd quarter worth $37,000. Richardson Financial Services Inc. acquired a new stake in shares of GSK in the fourth quarter valued at about $40,000. PrairieView Partners LLC purchased a new position in shares of GSK in the second quarter worth about $47,000. Finally, Triad Wealth Partners LLC acquired a new position in GSK during the second quarter worth about $49,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

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

GSK Trading Up 0.4 %

Shares of GSK stock opened at $40.88 on Tuesday. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The company has a 50 day moving average price of $41.57 and a 200 day moving average price of $41.58. The stock has a market capitalization of $84.72 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 1.31 and a beta of 0.66. 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 (NYSE:GSK) last announced its quarterly earnings data 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. GSK had a return on equity of 51.48% and a net margin of 12.87%. The business had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Equities research analysts predict that GSK plc will post 4.17 EPS for the current fiscal 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 paid a $0.3843 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a yield of 3.76%. This is an increase from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 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.