Private Advisor Group LLC Sells 7,121 Shares of GSK PLC Sponsored ADR (NYSE:GSK)

Key Points

• Private Advisor Group LLC reduced its holdings in GSK PLC by 13.0%, selling 7,121 shares in the first quarter, bringing its total to 47,692 shares valued at approximately $1,848,000.
• Several analysts have provided mixed ratings for GSK, with HSBC Global Res giving a "strong sell," while others maintain a "hold" rating, resulting in a current consensus rating of "Hold" and a target price of $37.38.
• GSK recently increased its quarterly dividend to $0.4216 per share, representing an annualized payout of $1.69 with a yield of 4.44%.

Private Advisor Group LLC lowered its stake in shares of GSK PLC Sponsored ADR (NYSE:GSK - Free Report) by 13.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,692 shares of the pharmaceutical company's stock after selling 7,121 shares during the quarter. Private Advisor Group LLC's holdings in GSK were worth $1,848,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GSK. Olde Wealth Management LLC acquired a new position in GSK during the 1st quarter valued at approximately $36,000. First Pacific Financial acquired a new position in GSK during the 1st quarter valued at approximately $45,000. CX Institutional acquired a new position in GSK during the 1st quarter valued at approximately $46,000. Garde Capital Inc. acquired a new position in shares of GSK during the first quarter worth approximately $51,000. Finally, HM Payson & Co. boosted its position in shares of GSK by 79.7% during the first quarter. HM Payson & Co. now owns 1,308 shares of the pharmaceutical company's stock worth $51,000 after buying an additional 580 shares during the period. Institutional investors and hedge funds own 15.74% of the company's stock.

GSK Price Performance

GSK traded down $0.28 during trading on Friday, reaching $37.95. The stock had a trading volume of 4,009,306 shares, compared to its average volume of 5,818,628. GSK PLC Sponsored ADR has a 1-year low of $31.72 and a 1-year high of $44.67. The stock has a 50 day moving average of $39.03 and a two-hundred day moving average of $37.53. The firm has a market capitalization of $77.70 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 1.55 and a beta of 0.50. The company has a quick ratio of 0.58, a current ratio of 0.87 and a debt-to-equity ratio of 1.21.

GSK (NYSE:GSK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The pharmaceutical company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $1.08 by $0.05. GSK had a return on equity of 48.82% and a net margin of 9.89%. The company had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that GSK PLC Sponsored ADR will post 4.14 EPS for the current fiscal year.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Friday, May 16th were paid a dividend of $0.4216 per share. This is an increase from GSK's previous quarterly dividend of $0.39. This represents a $1.69 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Friday, May 16th. GSK's payout ratio is 88.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on GSK shares. Berenberg Bank reiterated a "hold" rating on shares of GSK in a research report on Tuesday, June 3rd. Wall Street Zen downgraded GSK from a "buy" rating to a "hold" rating in a research report on Saturday. BNP Paribas started coverage on GSK in a research report on Tuesday, April 15th. They set a "neutral" rating and a $35.25 price objective for the company. Finally, Hsbc Global Res upgraded GSK to a "strong sell" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $37.38.

About GSK

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.