GSK plc (NYSE:GSK) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its stake in GSK plc (NYSE:GSK) by 35.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,554 shares of the pharmaceutical company’s stock after selling 2,485 shares during the quarter. Park Place Capital Corp’s holdings in GSK were worth $195,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC purchased a new position in shares of GSK in the 4th quarter valued at about $92,281,000. Armistice Capital LLC raised its stake in shares of GSK by 670.5% during the 4th quarter. Armistice Capital LLC now owns 2,196,000 shares of the pharmaceutical company’s stock worth $81,384,000 after buying an additional 1,911,000 shares during the period. Fisher Asset Management LLC raised its stake in shares of GSK by 10.8% during the 4th quarter. Fisher Asset Management LLC now owns 15,065,558 shares of the pharmaceutical company’s stock worth $558,330,000 after buying an additional 1,465,165 shares during the period. Provident Trust Co. lifted its position in shares of GSK by 53.6% during the 4th quarter. Provident Trust Co. now owns 3,716,830 shares of the pharmaceutical company’s stock valued at $137,746,000 after buying an additional 1,297,385 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in GSK in the 3rd quarter valued at $45,114,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Guggenheim upgraded shares of GSK from a “neutral” rating to a “buy” rating in a research report on Monday, March 4th. Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Berenberg Bank raised GSK to a “strong-buy” rating in a report on Thursday, June 20th. Finally, The Goldman Sachs Group started coverage on GSK in a research note on Thursday, May 30th. They issued a “neutral” rating and a $47.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GSK has a consensus rating of “Moderate Buy” and a consensus target price of $47.00.

GSK Price Performance

GSK stock traded down $0.12 during mid-day trading on Monday, reaching $38.38. The company’s stock had a trading volume of 2,872,525 shares, compared to its average volume of 3,655,897. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.15. The company’s 50 day moving average is $42.51 and its two-hundred day moving average is $41.23. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The stock has a market cap of $79.54 billion, a PE ratio of 13.90, a P/E/G ratio of 1.16 and a beta of 0.64.

GSK (NYSE:GSK) last posted its quarterly earnings results on Wednesday, May 1st. The pharmaceutical company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.94 by $0.15. The firm had revenue of $9.34 billion during the quarter, compared to analysts’ expectations of $8.98 billion. GSK had a return on equity of 51.54% and a net margin of 14.62%. Equities research analysts expect that GSK plc will post 4.11 EPS for the current year.

GSK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be given a dividend of $0.3762 per share. This is a boost from GSK’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, May 16th. This represents a $1.50 annualized dividend and a dividend yield of 3.92%. GSK’s payout ratio is presently 53.26%.

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.