Miracle Mile Advisors LLC Sells 799 Shares of GSK plc (NYSE:GSK)

Miracle Mile Advisors LLC reduced its position in shares of GSK plc (NYSE:GSK) by 7.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,501 shares of the pharmaceutical company’s stock after selling 799 shares during the quarter. Miracle Mile Advisors LLC’s holdings in GSK were worth $388,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Register Financial Advisors LLC acquired a new position in GSK during the 1st quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of GSK in the 2nd quarter valued at about $37,000. Richardson Financial Services Inc. acquired a new stake in shares of GSK in the fourth quarter valued at about $40,000. PrairieView Partners LLC bought a new stake in GSK during the second quarter worth about $47,000. Finally, Triad Wealth Partners LLC acquired a new position in GSK during the second quarter valued at approximately $49,000. 15.74% of the stock is currently owned by institutional investors.

GSK Stock Performance

Shares of NYSE GSK opened at $38.03 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.82 and a quick ratio of 0.54. The firm has a market cap of $78.82 billion, a price-to-earnings ratio of 13.78, a P/E/G ratio of 1.31 and a beta of 0.65. The stock’s fifty day moving average price is $41.54 and its two-hundred day moving average price is $41.47. GSK plc has a one year low of $33.67 and a one year high of $45.92.

GSK (NYSE:GSK) last released its earnings results on Wednesday, July 31st. The pharmaceutical company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.09. GSK had a return on equity of 51.48% and a net margin of 12.87%. The firm had revenue of $9.95 billion during the quarter, compared to the consensus estimate of $9.49 billion. On average, equities analysts forecast that GSK plc will post 4.17 EPS for the current year.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Friday, August 16th will be given a $0.3843 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Friday, August 16th. This is a boost from GSK’s previous quarterly dividend of $0.38. GSK’s payout ratio is currently 54.71%.

Insiders Place Their Bets

In other news, major shareholder Plc Gsk acquired 2,791,930 shares of GSK stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $8.00 per share, for a total transaction of $22,335,440.00. Following the transaction, the insider now directly owns 16,775,691 shares of the company’s stock, valued at approximately $134,205,528. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Barclays upgraded shares of GSK to a “hold” rating in a research note on Tuesday, August 27th. Berenberg Bank upgraded GSK to a “strong-buy” rating in a research note on Thursday, June 20th. Citigroup upgraded GSK to a “strong-buy” rating in a research note on Monday, June 24th. Jefferies Financial Group lifted their price objective on shares of GSK from $52.50 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Argus upgraded shares of GSK to a “strong-buy” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, GSK presently has an average rating of “Buy” and a consensus price target of $50.00.

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.