TD Private Client Wealth LLC Decreases Stake in GSK PLC Sponsored ADR $GSK

TD Private Client Wealth LLC lowered its stake in GSK PLC Sponsored ADR (NYSE:GSK) by 18.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,787 shares of the pharmaceutical company’s stock after selling 16,404 shares during the period. TD Private Client Wealth LLC’s holdings in GSK were worth $3,471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GSK. First Horizon Corp raised its holdings in shares of GSK by 78.7% in the fourth quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Elyxium Wealth LLC purchased a new position in shares of GSK in the fourth quarter worth $30,000. CNB Bank purchased a new position in shares of GSK in the third quarter worth $31,000. Triumph Capital Management purchased a new position in shares of GSK in the third quarter worth $40,000. Finally, Westside Investment Management Inc. raised its holdings in shares of GSK by 98.6% in the third quarter. Westside Investment Management Inc. now owns 991 shares of the pharmaceutical company’s stock worth $45,000 after buying an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

GSK has been the subject of a number of research analyst reports. Weiss Ratings raised shares of GSK from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of GSK from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. TD Cowen reiterated a “hold” rating on shares of GSK in a research note on Monday, February 9th. Barclays reiterated an “underweight” rating on shares of GSK in a research note on Friday, February 20th. Finally, Citigroup reiterated a “neutral” rating on shares of GSK in a research note on Monday, February 9th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $53.00.

GSK Stock Up 1.2%

Shares of NYSE GSK opened at $50.29 on Tuesday. The company’s 50-day simple moving average is $54.23 and its 200-day simple moving average is $52.18. GSK PLC Sponsored ADR has a 52-week low of $35.45 and a 52-week high of $61.69. The firm has a market cap of $102.05 billion, a price-to-earnings ratio of 13.07, a price-to-earnings-growth ratio of 2.53 and a beta of 0.38. The company has a quick ratio of 0.52, a current ratio of 0.79 and a debt-to-equity ratio of 0.80.

GSK Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Friday, May 15th will be given a $0.44 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 3.5%. GSK’s dividend payout ratio (DPR) is 47.01%.

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.