Redwood Wealth Management Group LLC Takes Position in GSK plc (NYSE:GSK)

Redwood Wealth Management Group LLC purchased a new position in GSK plc (NYSE:GSK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,851 shares of the pharmaceutical company’s stock, valued at approximately $71,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Register Financial Advisors LLC purchased a new stake in GSK in the first quarter worth $31,000. Ashton Thomas Private Wealth LLC purchased a new position in GSK in the 2nd quarter worth about $37,000. Richardson Financial Services Inc. purchased a new position in GSK in the 4th quarter worth about $40,000. PrairieView Partners LLC bought a new stake in GSK during the 2nd quarter valued at about $47,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in GSK in the 1st quarter valued at about $49,000. 15.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

GSK has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on shares of GSK in a research report on Thursday, May 30th. They set a “neutral” rating and a $47.00 target price on the stock. Jefferies Financial Group raised their price objective on GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Argus upgraded GSK to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Barclays upgraded GSK to a “hold” rating in a report on Tuesday, August 27th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $50.00.

GSK Trading Down 0.2 %

Shares of NYSE:GSK opened at $43.01 on Monday. The company has a market capitalization of $89.14 billion, a PE ratio of 15.58, a P/E/G ratio of 1.41 and a beta of 0.66. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.99. GSK plc has a 12-month low of $33.67 and a 12-month high of $45.92. The business’s fifty day simple moving average is $41.05 and its 200-day simple moving average is $41.69.

GSK (NYSE:GSK) last issued its quarterly earnings data on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. The company had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.49 billion. GSK had a return on equity of 51.48% and a net margin of 12.87%. As a group, equities research analysts predict that GSK plc will post 4.15 earnings per share for the current fiscal year.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Friday, August 16th will be paid a dividend of $0.3843 per share. This represents a $1.54 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Friday, August 16th. This is a positive change from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is 54.71%.

GSK Company 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.