Dorsey Wright & Associates Takes Position in GSK PLC Sponsored ADR $GSK

Key Points

• Dorsey Wright & Associates opened a new position in GSK during the first quarter, buying 45,693 shares worth about $2.52 million.
• GSK recently paid a quarterly dividend of $0.44 per share, equal to an annualized yield of about 3.4%, with a payout ratio of 46.49%.
• Recent sentiment around the stock is mixed: Jefferies initiated/resumed coverage with a Buy rating and upside potential, but GSK also halted development of camlipixant for refractory chronic cough after a Phase 3 miss.

Dorsey Wright & Associates purchased a new position in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 45,693 shares of the pharmaceutical company's stock, valued at approximately $2,522,000.

A number of other institutional investors also recently made changes to their positions in the stock. First Horizon Corp lifted its holdings in GSK by 78.7% in the 4th quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company's stock valued at $26,000 after acquiring an additional 236 shares during the last quarter. Elyxium Wealth LLC purchased a new position in GSK during the 4th quarter worth approximately $30,000. Triumph Capital Management purchased a new position in shares of GSK during the third quarter valued at $40,000. Coston McIsaac & Partners grew its stake in GSK by 17.3% during the 4th quarter. Coston McIsaac & Partners now owns 1,395 shares of the pharmaceutical company's stock valued at $68,000 after acquiring an additional 206 shares in the last quarter. Finally, Bogart Wealth LLC increased its stake in GSK by 15.3% in the 1st quarter. Bogart Wealth LLC now owns 1,508 shares of the pharmaceutical company's stock valued at $83,000 after buying an additional 200 shares during the period. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Price Performance

GSK stock opened at $51.81 on Friday. GSK PLC Sponsored ADR has a 12-month low of $36.16 and a 12-month high of $61.69. The business's 50-day simple moving average is $51.55 and its 200 day simple moving average is $53.34. The company has a quick ratio of 0.52, a current ratio of 0.79 and a debt-to-equity ratio of 0.80. The stock has a market cap of $104.79 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 3.37 and a beta of 0.35.

GSK Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Friday, May 15th were given a $0.44 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.4%. GSK's dividend payout ratio is currently 46.49%.

More GSK News

Here are the key news stories impacting GSK this week:

• Positive Sentiment: Jefferies resumed coverage on GSK with a Buy rating and a price target implying roughly 30% upside, arguing recent business-development deals strengthen the company’s long-term revenue outlook. Article Title
• Neutral Sentiment: GSK said camlipixant will still continue in a separate Phase 2b study for irritable bowel syndrome, leaving some optionality for the drug despite the cough-program setback. Article Title
• Negative Sentiment: GSK halted further development of camlipixant for refractory chronic cough after the Phase 3 program missed a main efficacy goal, a setback that may reduce confidence in the company’s respiratory pipeline. Article Title

Analyst Upgrades and Downgrades

GSK has been the topic of several research reports. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of GSK in a research report on Tuesday, June 9th. Wall Street Zen upgraded shares of GSK from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. Weiss Ratings lowered GSK from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, June 11th. HSBC raised shares of GSK from a "reduce" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of GSK in a research report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $53.00.

About GSK

GSK (GlaxoSmithKline plc) is a London-headquartered, multinational pharmaceutical and healthcare company formed through the 2000 merger of Glaxo Wellcome and SmithKline Beecham. The company is dual-listed and operates globally, developing, manufacturing and commercializing prescription medicines, vaccines and specialty treatments. Over its history GSK has evolved through portfolio reshaping and strategic transactions to focus on science-led pharmaceuticals and vaccines.

GSK's core activities include research and development of therapies and vaccines across a range of therapeutic areas, commercial manufacturing, and global marketing.

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GSK PLC Sponsored ADR (NYSE:GSK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.