Brandywine Global Investment Management LLC Sells 87,389 Shares of GSK PLC Sponsored ADR $GSK

Key Points

• Brandywine Global Investment Management LLC has reduced its stake in GSK by 5.5%, owning approximately 1.51 million shares valued at $58.5 million as of the latest SEC filing.
• GSK's recent earnings report surpassed expectations, with an EPS of $1.23, compared to estimates of $1.12, alongside a revenue of $10.64 billion for the quarter.
• The company declared a quarterly dividend of $0.4206 per share, projecting an annualized yield of 4.3% and a payout ratio of 79.17%.

Brandywine Global Investment Management LLC reduced its position in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 5.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,510,608 shares of the pharmaceutical company's stock after selling 87,389 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.07% of GSK worth $58,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GSK. Brighton Jones LLC purchased a new stake in GSK in the 4th quarter worth approximately $528,000. First Hawaiian Bank grew its position in shares of GSK by 18.8% during the 1st quarter. First Hawaiian Bank now owns 101,039 shares of the pharmaceutical company's stock valued at $3,914,000 after acquiring an additional 15,987 shares during the period. Forum Financial Management LP lifted its holdings in GSK by 167.9% in the fourth quarter. Forum Financial Management LP now owns 13,397 shares of the pharmaceutical company's stock valued at $453,000 after acquiring an additional 8,396 shares during the last quarter. Barclays PLC increased its holdings in GSK by 84.2% in the fourth quarter. Barclays PLC now owns 49,628 shares of the pharmaceutical company's stock valued at $1,678,000 after buying an additional 22,689 shares during the last quarter. Finally, Crestline Management LP acquired a new position in shares of GSK during the 4th quarter worth $1,047,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Price Performance

Shares of NYSE GSK traded up $0.07 during midday trading on Friday, reaching $39.30. The stock had a trading volume of 3,038,539 shares, compared to its average volume of 4,586,450. GSK PLC Sponsored ADR has a 12-month low of $31.72 and a 12-month high of $44.67. The stock has a 50-day moving average of $38.50 and a 200-day moving average of $37.99. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 1.71 and a beta of 0.51. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.57 and a current ratio of 0.87.

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

GSK Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Friday, August 15th will be paid a $0.4206 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Friday, August 15th. GSK's dividend payout ratio is 77.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on GSK shares. Hsbc Global Res raised shares of GSK to a "strong sell" rating in a research note on Monday, April 28th. Berenberg Bank reiterated a "hold" rating on shares of GSK in a research note on Tuesday, June 3rd. Finally, Wall Street Zen upgraded shares of GSK from a "hold" rating to a "buy" rating in a research report on Sunday, August 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $37.38.

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.