Goldman Sachs Group Inc. Decreases Stock Position in GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Goldman Sachs Group Inc. reduced its holdings in GSK PLC by 5.4%, now owning 10,862,887 shares worth approximately $420.8 million.
• GSK recently reported $1.23 earnings per share for the quarter, exceeding estimates and reflecting a 1.3% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.4206 per share, representing an annualized yield of 4.5% and a payout ratio of 79.17%.

Goldman Sachs Group Inc. reduced its position in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,862,887 shares of the pharmaceutical company's stock after selling 620,277 shares during the period. Goldman Sachs Group Inc. owned 0.53% of GSK worth $420,828,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Brighton Jones LLC purchased a new stake in GSK in the fourth quarter worth about $528,000. Mondrian Investment Partners LTD increased its holdings in shares of GSK by 17.6% in the 4th quarter. Mondrian Investment Partners LTD now owns 5,838,384 shares of the pharmaceutical company's stock worth $205,920,000 after buying an additional 874,004 shares during the last quarter. Advisory Services Network LLC grew its holdings in GSK by 0.8% during the 4th quarter. Advisory Services Network LLC now owns 81,133 shares of the pharmaceutical company's stock valued at $2,744,000 after purchasing an additional 650 shares during the last quarter. F M Investments LLC grew its holdings in GSK by 18.4% during the 4th quarter. F M Investments LLC now owns 45,514 shares of the pharmaceutical company's stock valued at $1,539,000 after purchasing an additional 7,078 shares during the last quarter. Finally, Argent Trust Co boosted its position in GSK by 6.2% in the 4th quarter. Argent Trust Co now owns 34,472 shares of the pharmaceutical company's stock valued at $1,166,000 after buying an additional 2,012 shares during the period. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GSK has been the subject of a number of analyst reports. BNP Paribas initiated coverage on shares of GSK in a research report on Tuesday, April 15th. They set a "neutral" rating and a $35.25 target price for the company. Wall Street Zen raised shares of GSK from a "hold" rating to a "buy" rating in a report on Sunday, August 3rd. Hsbc Global Res raised shares of GSK to a "strong sell" rating in a report on Monday, April 28th. Finally, Berenberg Bank reiterated a "hold" rating on shares of GSK in a research note on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $37.38.

GSK Stock Up 0.5%

Shares of NYSE:GSK traded up $0.18 during trading on Friday, hitting $37.76. 3,409,167 shares of the company were exchanged, compared to its average volume of 6,032,611. The stock has a market capitalization of $77.00 billion, a P/E ratio of 17.48, a PEG ratio of 1.65 and a beta of 0.51. The firm's 50 day moving average price is $38.73 and its 200-day moving average price is $37.83. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.87 and a quick ratio of 0.57. GSK PLC Sponsored ADR has a 12-month low of $31.72 and a 12-month high of $44.67.

GSK (NYSE:GSK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The pharmaceutical company reported $1.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.11. The company had revenue of $10.64 billion during the quarter, compared to analysts' expectations of $7.92 billion. GSK had a net margin of 10.81% and a return on equity of 49.22%. The firm's quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, research analysts predict that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current fiscal year.

GSK Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors 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 yield of 4.5%. The ex-dividend date is Friday, August 15th. GSK's payout ratio is presently 79.17%.

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.