Ritholtz Wealth Management Buys 11,920 Shares of GSK plc (NYSE:GSK)

Ritholtz Wealth Management increased its stake in shares of GSK plc (NYSE:GSKGet Rating) by 39.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,230 shares of the pharmaceutical company’s stock after acquiring an additional 11,920 shares during the period. Ritholtz Wealth Management’s holdings in GSK were worth $1,838,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GSK. Tyler Stone Wealth Management bought a new stake in shares of GSK in the 4th quarter worth $26,000. Tsfg LLC raised its position in GSK by 67.9% in the 1st quarter. Tsfg LLC now owns 618 shares of the pharmaceutical company’s stock worth $27,000 after buying an additional 250 shares during the last quarter. Glassman Wealth Services grew its stake in shares of GSK by 71.3% during the 4th quarter. Glassman Wealth Services now owns 627 shares of the pharmaceutical company’s stock valued at $28,000 after acquiring an additional 261 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of GSK during the 1st quarter worth approximately $30,000. Finally, Strategic Asset Management LLC raised its holdings in GSK by 119.8% during the 2nd quarter. Strategic Asset Management LLC now owns 734 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 400 shares during the period. Institutional investors own 16.86% of the company’s stock.

GSK Stock Performance

GSK traded down $0.78 on Friday, reaching $29.23. The company had a trading volume of 226,925 shares, compared to its average volume of 6,046,734. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.31 and a current ratio of 1.43. The stock has a market cap of $59.44 billion, a P/E ratio of 9.94, a P/E/G ratio of 1.13 and a beta of 0.61. GSK plc has a fifty-two week low of $29.53 and a fifty-two week high of $46.97. The company’s fifty day moving average is $35.90 and its 200 day moving average is $40.93.

GSK (NYSE:GSKGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The pharmaceutical company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.11. GSK had a net margin of 12.91% and a return on equity of 27.84%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $9.35 billion. As a group, analysts predict that GSK plc will post 3.23 earnings per share for the current fiscal year.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 6th. Investors of record on Friday, August 19th will be paid a $0.383 dividend. This represents a $1.53 annualized dividend and a dividend yield of 5.24%. This is an increase from GSK’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, August 18th. GSK’s payout ratio is presently 50.66%.

Wall Street Analyst Weigh In

GSK has been the subject of several research analyst reports. Jefferies Financial Group cut GSK from a “buy” rating to a “hold” rating in a research note on Thursday, September 8th. Credit Suisse Group raised GSK from an “underperform” rating to a “neutral” rating in a research report on Thursday, September 15th. TheStreet downgraded GSK from a “b” rating to a “c+” rating in a research note on Monday, August 29th. StockNews.com downgraded GSK from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Finally, UBS Group decreased their price objective on GSK from GBX 1,876 ($22.67) to GBX 1,850 ($22.35) in a report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $1,700.00.

GSK Profile

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GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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