Douglas Lane & Associates LLC Cuts Holdings in GSK PLC Sponsored ADR $GSK

Key Points

• Douglas Lane & Associates LLC cut its stake in GSK by 6.8% in Q4, selling 76,109 shares and now owns 1,044,790 shares valued at about $51.24 million (≈0.05% of the company).
• GSK raised its quarterly dividend to $0.4856 (from $0.42), implying $1.94 annually and a ~3.3% yield with a payout ratio of 51.62%; the dividend was paid April 9 with record/ex-dividend date Feb 20.
• Analyst sentiment is mixed-to-negative—one Buy, seven Hold and three Sell—giving GSK an average MarketBeat rating of "Reduce" and an average price target of $44.13, while the stock trades near $58 with a market cap of about $118.5 billion.

Douglas Lane & Associates LLC reduced its position in GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,044,790 shares of the pharmaceutical company's stock after selling 76,109 shares during the quarter. Douglas Lane & Associates LLC owned about 0.05% of GSK worth $51,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. CNB Bank acquired a new stake in shares of GSK during the third quarter valued at about $31,000. Triumph Capital Management acquired a new stake in shares of GSK during the third quarter valued at about $40,000. Salomon & Ludwin LLC grew its stake in shares of GSK by 444.0% during the third quarter. Salomon & Ludwin LLC now owns 952 shares of the pharmaceutical company's stock valued at $41,000 after acquiring an additional 777 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of GSK by 98.6% during the third quarter. Westside Investment Management Inc. now owns 991 shares of the pharmaceutical company's stock valued at $45,000 after acquiring an additional 492 shares in the last quarter. Finally, 1248 Management LLC grew its stake in shares of GSK by 314.6% during the third quarter. 1248 Management LLC now owns 1,053 shares of the pharmaceutical company's stock valued at $46,000 after acquiring an additional 799 shares in the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.

GSK Stock Performance

Shares of GSK stock opened at $58.33 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average of $56.35 and a two-hundred day moving average of $50.18. GSK PLC Sponsored ADR has a 52 week low of $32.73 and a 52 week high of $61.69. The company has a market cap of $118.50 billion, a P/E ratio of 15.77, a PEG ratio of 3.35 and a beta of 0.46.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Friday, February 20th were paid a $0.4856 dividend. The ex-dividend date was Friday, February 20th. This is an increase from GSK's previous quarterly dividend of $0.42. This represents a $1.94 dividend on an annualized basis and a yield of 3.3%. GSK's payout ratio is presently 51.62%.

Analyst Ratings Changes

Several analysts have recently weighed in on GSK shares. Citigroup restated a "neutral" rating on shares of GSK in a research note on Monday, February 9th. Wall Street Zen downgraded GSK from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. Barclays reiterated an "underweight" rating on shares of GSK in a research note on Friday, February 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of GSK in a research note on Friday, January 16th. Finally, Morgan Stanley reiterated an "underweight" rating on shares of GSK in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, GSK has an average rating of "Reduce" and an average price target of $44.13.

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.

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