Oppenheimer & Co. Inc. has $2.40M position in GSK plc (NYSE:GSK)

Oppenheimer & Co. Inc. lessened its position in GSK plc (NYSE:GSK – Free Report) by 6.3% in the second quarter, HoldingsChannel.com reports. The fund owned 62,441 shares of the pharmaceutical company’s stock after selling 4,230 shares during the period. The holdings of Oppenheimer & Co. Inc. holdings in GSK were worth $2,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in GSK in the 1st quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of GSK in the second quarter valued at $37,000. Richardson Financial Services Inc. purchased a new stake in GSK in the fourth quarter valued at $40,000. Newbridge Financial Services Group Inc. bought a new position in GSK in the first quarter worth approximately $49,000. Finally, PrairieView Partners LLC acquired a new position in GSK in the second quarter valued at about $47,000. Institutional investors own 15.74% of the company’s shares.

GSK stock performance

GSK opened at $43.55 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.54, and a current ratio of 0.82. The company’s 50-day simple moving average is $41.14, and its 200-day simple moving average is $41.70. The firm has a market cap of $90.26 billion, a PE ratio of 15.78, a PEG ratio of 1.41 and a beta of 0.66. GSK plc has a 52-week low of $33.67 and a 52-week high of $45.92.

GSK (NYSE:GSK – Get Your Free Report ) last posted its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.09. The business had revenue of $9.95 billion during the quarter, compared to analysts’ expectations of $9.49 billion. GSK had a net margin of 12.87% and a return on equity of 51.48%. As a group, sell-side analysts expect that GSK plc will post 4.15 earnings per share for the current fiscal year.

GSK increases dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Friday, August 16th will be issued a $0.3843 dividend. This represents a dividend of $1.54 on an annualized basis and a dividend yield of 3.53%. This is a boost from GSK’s previous quarterly dividend of $0.38. The ex-dividend date is Friday, August 16. GSK’s dividend payout ratio is currently 54.71%.

Analysts on Wall Street are forecasting an increase

Several research firms recently weighed in on GSK. Citigroup upgraded GSK to a “strong-buy” rating in a report on Monday, June 24th. Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays upgraded the shares of GSK to a “hold” rating in a report on Tuesday, August 27. Berenberg Bank raised shares of GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Finally, UBS Group downgraded GSK from a “buy” rating to a “neutral” rating in a research note on Monday, July 8th. 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. The stock presently has an average rating of “Buy” and a consensus price target of $50.00, based on data from MarketBeat.com.

Read our latest report on GSK

About GSK

(Free report)

GSK plc, together with its subsidiaries, is engaged in the research, development and manufacture of vaccines and specialty and general medicines for the prevention and treatment of disease in the United Kingdom, the United States and internationally. It operates through two segments, Commercial Operations and Total R&D.

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