GSK PLC Sponsored ADR $GSK Shares Sold by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments trimmed its GSK stake by 1.2% in Q4, selling 19,496 shares and now holds 1,642,114 shares worth about $80.53M, representing roughly 2.4% of the fund's portfolio (its 8th largest position).
• Analyst sentiment is negative overall — the consensus rating is Reduce with an average price target of $53.00 (1 Buy, 6 Hold, 3 Sell), alongside recent underweight/hold reissues from major brokers.
• GSK raised its quarterly dividend to $0.4856 (annualized $1.94), up from $0.42, implying a yield of about 3.3%.

Miller Howard Investments Inc. NY trimmed its holdings in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,642,114 shares of the pharmaceutical company's stock after selling 19,496 shares during the quarter. GSK accounts for about 2.4% of Miller Howard Investments Inc. NY's portfolio, making the stock its 8th largest position. Miller Howard Investments Inc. NY owned approximately 0.08% of GSK worth $80,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC purchased a new stake in shares of GSK during the fourth quarter worth about $528,000. AQR Capital Management LLC boosted its stake in GSK by 84.4% in the 1st quarter. AQR Capital Management LLC now owns 40,239 shares of the pharmaceutical company's stock worth $1,559,000 after purchasing an additional 18,420 shares in the last quarter. Empowered Funds LLC grew its position in GSK by 2.1% during the 1st quarter. Empowered Funds LLC now owns 79,174 shares of the pharmaceutical company's stock worth $3,067,000 after purchasing an additional 1,598 shares during the last quarter. Rhumbline Advisers grew its position in GSK by 20.7% during the 2nd quarter. Rhumbline Advisers now owns 22,209 shares of the pharmaceutical company's stock worth $853,000 after purchasing an additional 3,806 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in GSK by 17.8% during the 2nd quarter. Gabelli Funds LLC now owns 7,960 shares of the pharmaceutical company's stock valued at $306,000 after purchasing an additional 1,200 shares in the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Barclays reaffirmed an "underweight" rating on shares of GSK in a report on Friday, February 20th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of GSK in a research report on Friday, January 16th. Wall Street Zen lowered GSK from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 7th. TD Cowen reaffirmed a "hold" rating on shares of GSK in a research report on Monday, February 9th. Finally, Citigroup reiterated a "neutral" rating on shares of GSK in a research note on Monday, February 9th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $53.00.

GSK Stock Down 0.1%

GSK stock opened at $58.32 on Monday. The company has a market capitalization of $118.47 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 3.40 and a beta of 0.46. GSK PLC Sponsored ADR has a 12 month low of $35.45 and a 12 month high of $61.69. The firm's fifty day simple moving average is $56.66 and its 200-day simple moving average is $51.02. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.82 and a quick ratio of 0.54.

GSK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Friday, February 20th were issued a dividend of $0.4856 per share. This represents a $1.94 annualized dividend and a yield of 3.3%. This is a positive change from GSK's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, February 20th. GSK's dividend payout ratio is 50.81%.

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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