Bank of New York Mellon Corp Raises Stake in GSK PLC Sponsored ADR (NYSE:GSK)

Bank of New York Mellon Corp grew its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,051,637 shares of the pharmaceutical company’s stock after acquiring an additional 77,586 shares during the quarter. Bank of New York Mellon Corp owned 0.05% of GSK worth $40,740,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in GSK. Olde Wealth Management LLC purchased a new stake in shares of GSK during the 1st quarter valued at about $36,000. Lee Danner & Bass Inc. purchased a new stake in GSK in the fourth quarter worth approximately $39,000. First Pacific Financial purchased a new stake in GSK in the first quarter worth approximately $45,000. CX Institutional purchased a new stake in GSK during the 1st quarter valued at $46,000. Finally, Garde Capital Inc. purchased a new stake in GSK during the 1st quarter valued at $51,000. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Berenberg Bank reiterated a “hold” rating on shares of GSK in a research report on Tuesday, June 3rd. BNP Paribas assumed coverage on 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 report on Monday, April 28th. Finally, Wall Street Zen downgraded shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $37.38.

GSK Stock Performance

Shares of GSK stock opened at $38.34 on Tuesday. The business has a 50-day moving average of $38.97 and a 200 day moving average of $37.33. 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 12 month low of $31.72 and a 12 month high of $44.67. The stock has a market capitalization of $78.49 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.54 and a beta of 0.50.

GSK (NYSE:GSK) last issued its quarterly earnings data on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $7.52 billion. GSK had a net margin of 9.89% and a return on equity of 48.82%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. As a group, sell-side analysts forecast that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Friday, May 16th were given a dividend of $0.4216 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.69 dividend on an annualized basis and a yield of 4.40%. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s dividend payout ratio (DPR) is 88.14%.

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.