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

Miller Howard Investments Inc. NY lessened its holdings in GSK PLC Sponsored ADR (NYSE:GSK) by 0.8% in the first quarter, HoldingsChannel reports. The fund owned 1,629,351 shares of the pharmaceutical company’s stock after selling 12,763 shares during the period. GSK accounts for 2.5% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 5th largest position. Miller Howard Investments Inc. NY’s holdings in GSK were worth $89,924,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Fisher Asset Management LLC raised its stake in GSK by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 32,227,615 shares of the pharmaceutical company’s stock worth $1,390,944,000 after purchasing an additional 889,210 shares in the last quarter. Brighton Jones LLC acquired a new position in shares of GSK during the 4th quarter worth approximately $528,000. Prime Capital Investment Advisors LLC increased its holdings in shares of GSK by 182.7% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 30,188 shares of the pharmaceutical company’s stock worth $1,480,000 after purchasing an additional 19,509 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of GSK by 146.6% during the fourth quarter. Farther Finance Advisors LLC now owns 29,529 shares of the pharmaceutical company’s stock worth $1,448,000 after purchasing an additional 17,553 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of GSK in the fourth quarter valued at approximately $6,385,000. 15.74% of the stock is currently owned by institutional investors and hedge funds.

GSK Stock Up 2.7%

GSK stock opened at $52.09 on Wednesday. The stock has a market capitalization of $105.49 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 2.62 and a beta of 0.36. The company has a current ratio of 0.79, a quick ratio of 0.52 and a debt-to-equity ratio of 0.80. GSK PLC Sponsored ADR has a 12 month low of $35.45 and a 12 month high of $61.69. The firm has a 50-day moving average price of $52.39 and a 200-day moving average price of $52.89.

GSK Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, May 15th. GSK’s dividend payout ratio is currently 47.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wall Street Zen cut GSK from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Royal Bank Of Canada reissued an “outperform” rating on shares of GSK in a report on Tuesday, June 9th. Finally, Weiss Ratings cut GSK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.00.

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.