Eastern Bank Purchases 518 Shares of GSK PLC Sponsored ADR (NYSE:GSK)

Eastern Bank increased its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 57.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,426 shares of the pharmaceutical company’s stock after purchasing an additional 518 shares during the period. Eastern Bank’s holdings in GSK were worth $55,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of GSK. Richardson Financial Services Inc. lifted its stake in shares of GSK by 127.9% during the 1st quarter. Richardson Financial Services Inc. now owns 841 shares of the pharmaceutical company’s stock worth $33,000 after buying an additional 472 shares during the last quarter. Olde Wealth Management LLC acquired a new position in GSK in the 1st quarter valued at about $36,000. First Pacific Financial bought a new position in GSK in the 1st quarter valued at about $45,000. CX Institutional acquired a new stake in GSK during the first quarter worth approximately $46,000. Finally, Garde Capital Inc. acquired a new stake in GSK during the first quarter worth approximately $51,000. Institutional investors own 15.74% of the company’s stock.

Wall Street Analysts Forecast Growth

GSK has been the topic of several research reports. Hsbc Global Res raised GSK to a “strong sell” rating in a research report on Monday, April 28th. Wall Street Zen lowered GSK from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. BNP Paribas began coverage on GSK in a research report on Tuesday, April 15th. They set a “neutral” rating and a $35.25 price objective on the stock. Finally, Berenberg Bank reissued a “hold” rating on shares of GSK in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, GSK has an average rating of “Hold” and a consensus target price of $37.38.

GSK Stock Up 1.0%

NYSE GSK opened at $37.53 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.58 and a debt-to-equity ratio of 1.07. The company has a market cap of $76.62 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.62 and a beta of 0.51. The company has a 50 day moving average of $38.96 and a 200-day moving average of $37.66. GSK PLC Sponsored ADR has a 1-year low of $31.72 and a 1-year high of $44.67.

GSK (NYSE:GSK) last posted its quarterly earnings data on Wednesday, July 30th. The pharmaceutical company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.11. The firm had revenue of $10.64 billion for the quarter, compared to analyst estimates of $7.92 billion. GSK had a return on equity of 49.22% and a net margin of 10.81%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, equities research analysts expect that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current fiscal year.

GSK Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Friday, August 15th will be issued a $0.4206 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Friday, August 15th. GSK’s dividend payout ratio (DPR) is currently 79.17%.

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.