GSK plc (GSK) to Issue Quarterly Dividend of $0.42 on July 10th

GSK plc (NYSE:GSK) declared a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, May 16th will be paid a dividend of 0.4216 per share by the pharmaceutical company on Thursday, July 10th. This represents a $1.69 annualized dividend and a yield of 4.64%. The ex-dividend date of this dividend is Friday, May 16th. This is a 7.2% increase from GSK’s previous quarterly dividend of $0.39.

GSK has decreased its dividend by an average of 17.3% annually over the last three years. GSK has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect GSK to earn $4.65 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 37.0%.

GSK Stock Down 2.7%

Shares of GSK opened at $36.36 on Wednesday. The company has a market capitalization of $75.02 billion, a PE ratio of 22.87, a PEG ratio of 1.12 and a beta of 0.51. The company has a current ratio of 0.78, a quick ratio of 0.52 and a debt-to-equity ratio of 1.12. GSK has a 12 month low of $31.72 and a 12 month high of $45.93. The stock’s 50-day moving average price is $37.56 and its two-hundred day moving average price is $35.97.

GSK (NYSE:GSK) last issued its quarterly earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. GSK had a return on equity of 48.59% and a net margin of 8.13%. The business had revenue of $10.06 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period last year, the company posted $0.43 earnings per share. GSK’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, analysts anticipate that GSK will post 4.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GSK. Hsbc Global Res upgraded shares of GSK to a “strong sell” rating in a research note on Monday, April 28th. Morgan Stanley began coverage on shares of GSK in a report on Wednesday, February 12th. They issued an “equal weight” rating on the stock. StockNews.com raised shares of GSK from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 24th. Finally, BNP Paribas began coverage on shares of GSK in a report on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $40.58.

Institutional Investors Weigh In On GSK

An institutional investor recently bought a new position in GSK stock. Brighton Jones LLC bought a new stake in GSK plc (NYSE:GSK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,604 shares of the pharmaceutical company’s stock, valued at approximately $528,000. 15.74% of the stock is currently owned by institutional investors.

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.