Sound Income Strategies LLC Trims Holdings in GSK PLC Sponsored ADR $GSK

Sound Income Strategies LLC trimmed its holdings in GSK PLC Sponsored ADR (NYSE:GSK) by 14.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,474 shares of the pharmaceutical company’s stock after selling 55,546 shares during the quarter. Sound Income Strategies LLC’s holdings in GSK were worth $19,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of GSK. First Horizon Corp boosted its stake in GSK by 78.7% during the fourth quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company’s stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Elyxium Wealth LLC bought a new position in shares of GSK during the fourth quarter valued at approximately $30,000. Triumph Capital Management bought a new position in shares of GSK during the third quarter valued at approximately $40,000. 1248 Management LLC increased its stake in shares of GSK by 314.6% during the third quarter. 1248 Management LLC now owns 1,053 shares of the pharmaceutical company’s stock valued at $46,000 after purchasing an additional 799 shares in the last quarter. Finally, Coston McIsaac & Partners lifted its holdings in shares of GSK by 17.3% during the fourth quarter. Coston McIsaac & Partners now owns 1,395 shares of the pharmaceutical company’s stock valued at $68,000 after purchasing an additional 206 shares during the last quarter. 15.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GSK has been the topic of a number of analyst reports. Wall Street Zen raised GSK from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GSK in a research report on Tuesday, June 9th. Finally, Weiss Ratings cut GSK from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, GSK has an average rating of “Hold” and an average price target of $53.00.

GSK Stock Performance

Shares of GSK stock opened at $53.69 on Friday. GSK PLC Sponsored ADR has a one year low of $35.45 and a one year high of $61.69. The company’s 50-day moving average is $51.60 and its 200 day moving average is $53.08. The company has a market capitalization of $108.72 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 3.30 and a beta of 0.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.52 and a current ratio of 0.79.

GSK Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Stockholders of record on Friday, May 15th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, May 15th. GSK’s dividend payout ratio is currently 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.