GSK PLC Sponsored ADR (NYSE:GSK) Shares Sold by Canal Insurance CO

Canal Insurance CO trimmed its holdings in GSK PLC Sponsored ADR (NYSE:GSK) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the pharmaceutical company’s stock after selling 500 shares during the period. GSK accounts for about 1.8% of Canal Insurance CO’s investment portfolio, making the stock its 17th largest position. Canal Insurance CO’s holdings in GSK were worth $7,748,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Diversified Trust Co acquired a new stake in GSK in the 1st quarter valued at about $374,000. Total Wealth Planning & Management Inc. grew its stake in GSK by 46.5% in the 1st quarter. Total Wealth Planning & Management Inc. now owns 16,881 shares of the pharmaceutical company’s stock valued at $654,000 after acquiring an additional 5,356 shares during the last quarter. PDS Planning Inc purchased a new position in GSK in the 1st quarter valued at about $242,000. Sequoia Financial Advisors LLC lifted its holdings in GSK by 12.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 23,294 shares of the pharmaceutical company’s stock valued at $902,000 after purchasing an additional 2,649 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in GSK by 100.3% in the 1st quarter. Golden State Wealth Management LLC now owns 2,277 shares of the pharmaceutical company’s stock valued at $88,000 after purchasing an additional 1,140 shares in the last quarter. 15.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of GSK from a “buy” rating to a “hold” rating in a report on Friday, May 30th. BNP Paribas began coverage on shares of GSK in a report on Tuesday, April 15th. They issued a “neutral” rating and a $35.25 target price on the stock. Hsbc Global Res upgraded 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 report on Tuesday, June 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $37.38.

GSK Stock Up 0.8%

GSK opened at $38.59 on Friday. The firm has a 50 day moving average price of $38.81 and a 200 day moving average price of $36.91. The company has a market cap of $79.02 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 1.34 and a beta of 0.52. GSK PLC Sponsored ADR has a 1 year low of $31.72 and a 1 year high of $44.67. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.58 and a current ratio of 0.87.

GSK (NYSE:GSK) last posted its earnings results on Wednesday, April 30th. The pharmaceutical company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $10.06 billion during the quarter, compared to the consensus estimate of $7.52 billion. GSK had a net margin of 9.89% and a return on equity of 48.82%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Sell-side analysts expect that GSK PLC Sponsored ADR will post 4.14 earnings per share for the current year.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Friday, May 16th will be paid a dividend of $0.4216 per share. The ex-dividend date is Friday, May 16th. This represents a $1.69 dividend on an annualized basis and a dividend yield of 4.37%. This is a positive change from GSK’s previous quarterly dividend of $0.39. GSK’s dividend payout ratio (DPR) is currently 87.11%.

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.