GSK plc (NYSE:GSK) Stake Lifted by Concorde Asset Management LLC

Concorde Asset Management LLC boosted its position in shares of GSK plc (NYSE:GSKGet Rating) by 157.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,982 shares of the pharmaceutical company’s stock after purchasing an additional 45,289 shares during the quarter. GSK comprises about 2.1% of Concorde Asset Management LLC’s portfolio, making the stock its 6th biggest position. Concorde Asset Management LLC’s holdings in GSK were worth $3,223,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tyler Stone Wealth Management purchased a new position in shares of GSK in the 4th quarter valued at $26,000. Clearview Wealth Advisors LLC purchased a new position in shares of GSK in the 4th quarter valued at $27,000. Allegheny Financial Group LTD purchased a new position in shares of GSK in the 4th quarter valued at $27,000. Glassman Wealth Services increased its holdings in shares of GSK by 71.3% in the 4th quarter. Glassman Wealth Services now owns 627 shares of the pharmaceutical company’s stock valued at $28,000 after acquiring an additional 261 shares during the period. Finally, Paragon Capital Management Ltd purchased a new position in shares of GSK in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 32.76% of the company’s stock.

Shares of GSK stock traded up $0.22 during trading on Monday, reaching $43.75. The company’s stock had a trading volume of 272,206 shares, compared to its average volume of 5,345,907. The company has a 50-day simple moving average of $43.63 and a two-hundred day simple moving average of $43.81. GSK plc has a 1-year low of $37.80 and a 1-year high of $46.97. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 1.29. The company has a market cap of $111.20 billion, a price-to-earnings ratio of 15.79, a P/E/G ratio of 1.96 and a beta of 0.61.

GSK (NYSE:GSKGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The pharmaceutical company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.11. GSK had a return on equity of 28.13% and a net margin of 14.03%. The company had revenue of $13.12 billion during the quarter, compared to analysts’ expectations of $11.97 billion. As a group, analysts anticipate that GSK plc will post 3.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 1st. Shareholders of record on Friday, May 20th were given a dividend of $0.3496 per share. The ex-dividend date was Thursday, May 19th. This represents a $1.40 dividend on an annualized basis and a yield of 3.20%. GSK’s dividend payout ratio is currently 49.46%.

A number of research firms have recently weighed in on GSK. JPMorgan Chase & Co. raised their price objective on GSK from GBX 1,740 ($21.35) to GBX 1,900 ($23.31) in a research report on Thursday, April 28th. Barclays raised their price objective on GSK from GBX 1,775 ($21.78) to GBX 1,800 ($22.08) in a research report on Friday, April 29th. Finally, cut GSK from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 28th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $1,850.00.

GSK Company Profile (Get Rating)

GSK plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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Institutional Ownership by Quarter for GSK (NYSE:GSK)

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