Mission Wealth Management LP Sells 1,993 Shares of GSK PLC Sponsored ADR (NYSE:GSK)

Mission Wealth Management LP decreased its holdings in GSK PLC Sponsored ADR (NYSE:GSK) by 18.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,525 shares of the pharmaceutical company’s stock after selling 1,993 shares during the quarter. Mission Wealth Management LP’s holdings in GSK were worth $330,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GSK. Sierra Ocean LLC bought a new stake in GSK during the fourth quarter valued at $32,000. Parkside Financial Bank & Trust boosted its position in GSK by 470.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 992 shares of the pharmaceutical company’s stock valued at $34,000 after acquiring an additional 818 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in GSK during the fourth quarter valued at $39,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in GSK during the fourth quarter valued at $40,000. Finally, Atala Financial Inc bought a new stake in GSK during the fourth quarter valued at $45,000. Institutional investors own 15.74% of the company’s stock.

GSK Trading Down 2.7%

GSK opened at $38.66 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.87 and a quick ratio of 0.58. GSK PLC Sponsored ADR has a fifty-two week low of $31.72 and a fifty-two week high of $44.67. The firm has a market capitalization of $79.23 billion, a PE ratio of 19.93, a P/E/G ratio of 1.39 and a beta of 0.52. The company’s 50-day moving average is $38.41 and its 200 day moving average is $36.76.

GSK (NYSE:GSK) last posted its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. GSK had a net margin of 9.89% and a return on equity of 48.82%. The company had revenue of $10.06 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter in the prior year, the business posted $0.43 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts predict that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current fiscal year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Friday, May 16th will be issued a $0.4216 dividend. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Friday, May 16th. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s dividend payout ratio is currently 87.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. BNP Paribas assumed coverage on shares of GSK in a research report on Tuesday, April 15th. They set a “neutral” rating and a $35.25 price objective on the stock. Hsbc Global Res raised shares of GSK to a “strong sell” rating in a research report on Monday, April 28th. Wall Street Zen cut shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Berenberg Bank reissued a “hold” rating on shares of GSK in a research report on Tuesday, June 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.38.

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.