Hourglass Capital LLC Makes New Investment in GSK PLC Sponsored ADR (NYSE:GSK)

Hourglass Capital LLC purchased a new position in shares of GSK PLC Sponsored ADR (NYSE:GSK) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 118,169 shares of the pharmaceutical company’s stock, valued at approximately $4,578,000.

Other large investors have also recently made changes to their positions in the company. Olde Wealth Management LLC acquired a new stake in shares of GSK in the first quarter valued at about $36,000. Lee Danner & Bass Inc. acquired a new stake in GSK in the 4th quarter valued at about $39,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in GSK in the 4th quarter valued at about $40,000. Atala Financial Inc purchased a new position in GSK in the 4th quarter worth approximately $45,000. Finally, First Pacific Financial acquired a new position in shares of GSK during the 1st quarter worth approximately $45,000. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Stock Up 0.1%

Shares of NYSE:GSK opened at $38.21 on Tuesday. The company has a market capitalization of $78.23 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.53 and a beta of 0.50. GSK PLC Sponsored ADR has a 12-month low of $31.72 and a 12-month high of $44.67. The business has a 50-day moving average price of $39.01 and a 200 day moving average price of $37.17. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.21.

GSK (NYSE:GSK) last announced its quarterly earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $10.06 billion during the quarter, compared to analysts’ expectations of $7.52 billion. GSK had a net margin of 9.89% and a return on equity of 48.82%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business earned $0.43 earnings per share. Sell-side analysts expect that GSK PLC Sponsored ADR will post 4.14 EPS for the current year.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, May 16th will be paid a $0.4216 dividend. The ex-dividend date of this dividend is Friday, May 16th. This is a boost from GSK’s previous quarterly dividend of $0.39. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.41%. GSK’s payout ratio is presently 87.11%.

Wall Street Analyst Weigh In

GSK has been the topic of a number of analyst reports. Wall Street Zen downgraded GSK from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. BNP Paribas started coverage on GSK in a report on Tuesday, April 15th. They set a “neutral” rating and a $35.25 price target on the stock. Berenberg Bank reissued a “hold” rating on shares of GSK in a report on Tuesday, June 3rd. Finally, Hsbc Global Res upgraded shares of GSK to a “strong sell” rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, GSK currently has a consensus rating of “Hold” and a consensus price target of $37.38.

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.