Oppenheimer & Co. Inc. Cuts Stock Holdings in GSK PLC Sponsored ADR (NYSE:GSK)

Oppenheimer & Co. Inc. decreased its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSKFree Report) by 2.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 45,813 shares of the pharmaceutical company’s stock after selling 1,271 shares during the period. Oppenheimer & Co. Inc.’s holdings in GSK were worth $1,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in GSK. Brighton Jones LLC purchased a new position in GSK during the 4th quarter valued at about $528,000. Ieq Capital LLC grew its position in shares of GSK by 10.5% in the 4th quarter. Ieq Capital LLC now owns 9,567 shares of the pharmaceutical company’s stock worth $324,000 after buying an additional 910 shares during the last quarter. IFP Advisors Inc grew its position in shares of GSK by 113.1% in the 4th quarter. IFP Advisors Inc now owns 12,392 shares of the pharmaceutical company’s stock worth $419,000 after buying an additional 6,578 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of GSK by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 974,051 shares of the pharmaceutical company’s stock worth $32,942,000 after buying an additional 20,659 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in shares of GSK by 24.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 8,298 shares of the pharmaceutical company’s stock worth $284,000 after buying an additional 1,637 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

GSK Stock Down 0.0%

GSK stock opened at $38.55 on Friday. The firm has a 50 day moving average of $38.86 and a 200 day moving average of $36.93. The stock has a market capitalization of $78.92 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.35 and a beta of 0.52. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.21. GSK PLC Sponsored ADR has a 52 week low of $31.72 and a 52 week high of $44.67.

GSK (NYSE:GSKGet Free Report) last released its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 EPS 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 during the quarter, compared to analysts’ expectations of $7.52 billion. During the same period last year, the business earned $0.43 EPS. GSK’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.4216 per share. This represents a $1.69 annualized dividend and a yield of 4.38%. This is a boost from GSK’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, May 16th. GSK’s payout ratio is presently 87.11%.

Wall Street Analyst Weigh In

GSK has been the topic of a number of analyst reports. BNP Paribas initiated coverage on shares of GSK in a research report on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 price objective on the stock. Berenberg Bank reaffirmed a “hold” rating on shares of GSK in a research report on Tuesday, June 3rd. Hsbc Global Res raised shares of GSK to a “strong sell” rating in a research report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of GSK from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GSK presently has an average rating of “Hold” and a consensus target price of $37.38.

Read Our Latest Stock Report on GSK

GSK Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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