Frank Rimerman Advisors LLC Takes $822,000 Position in GSK plc (NYSE:GSK)

Frank Rimerman Advisors LLC acquired a new position in GSK plc (NYSE:GSK - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 21,359 shares of the pharmaceutical company's stock, valued at approximately $822,000.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in GSK by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,777,695 shares of the pharmaceutical company's stock valued at $65,883,000 after purchasing an additional 18,585 shares during the last quarter. Assetmark Inc. raised its position in GSK by 1,598.7% during the fourth quarter. Assetmark Inc. now owns 2,582 shares of the pharmaceutical company's stock valued at $96,000 after acquiring an additional 2,430 shares in the last quarter. Franklin Resources Inc. lifted its holdings in GSK by 0.9% in the fourth quarter. Franklin Resources Inc. now owns 64,336 shares of the pharmaceutical company's stock valued at $2,451,000 after acquiring an additional 602 shares during the period. US Bancorp DE boosted its position in GSK by 3.3% in the 4th quarter. US Bancorp DE now owns 117,503 shares of the pharmaceutical company's stock worth $4,355,000 after purchasing an additional 3,722 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in shares of GSK by 5.7% during the 4th quarter. Neuberger Berman Group LLC now owns 32,435 shares of the pharmaceutical company's stock worth $1,202,000 after purchasing an additional 1,763 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Price Performance

Shares of GSK stock traded up $0.11 during mid-day trading on Tuesday, reaching $40.97. 2,650,397 shares of the stock traded hands, compared to its average volume of 3,571,600. The stock has a market capitalization of $84.91 billion, a PE ratio of 14.80, a PEG ratio of 1.41 and a beta of 0.66. The business has a 50-day moving average of $41.43 and a 200 day moving average of $41.66. GSK plc has a fifty-two week low of $33.67 and a fifty-two week high of $45.92. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.99.

GSK (NYSE:GSK - Get Free Report) last posted its quarterly 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. GSK had a net margin of 12.87% and a return on equity of 51.48%. The firm had revenue of $9.95 billion for the quarter, compared to the consensus estimate of $9.49 billion. On average, analysts predict that GSK plc will post 4.15 EPS for the current year.

GSK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.3843 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.54 dividend on an annualized basis and a yield of 3.75%. This is a positive change from GSK's previous quarterly dividend of $0.38. GSK's payout ratio is 54.71%.

Analyst Upgrades and Downgrades

Several research firms recently commented on GSK. The Goldman Sachs Group started coverage on shares of GSK in a research report on Thursday, May 30th. They set a "neutral" rating and a $47.00 price target on the stock. UBS Group cut GSK from a "buy" rating to a "neutral" rating in a research report on Monday, July 8th. Citigroup raised GSK to a "strong-buy" rating in a report on Monday, June 24th. Argus raised GSK to a "strong-buy" rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group upped their target price on GSK from $52.50 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $50.00.

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.