GSK PLC Sponsored ADR $GSK Stock: Fisher Asset Management LLC Lowers Holdings

Fisher Asset Management LLC cut its position in GSK PLC Sponsored ADR (NYSE:GSK) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,351,693 shares of the pharmaceutical company’s stock after selling 371,099 shares during the quarter. Fisher Asset Management LLC owned approximately 1.75% of GSK worth $1,702,891,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mondrian Investment Partners LTD increased its stake in shares of GSK by 1.1% in the third quarter. Mondrian Investment Partners LTD now owns 4,965,946 shares of the pharmaceutical company’s stock worth $239,210,000 after purchasing an additional 55,116 shares during the period. Equity Investment Corp increased its position in GSK by 8.9% in the 3rd quarter. Equity Investment Corp now owns 3,560,824 shares of the pharmaceutical company’s stock worth $171,525,000 after buying an additional 291,059 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of GSK by 2.1% during the third quarter. Russell Investments Group Ltd. now owns 1,060,376 shares of the pharmaceutical company’s stock worth $51,078,000 after buying an additional 22,275 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of GSK by 842.9% during the second quarter. NewEdge Advisors LLC now owns 953,574 shares of the pharmaceutical company’s stock worth $49,986,000 after buying an additional 852,437 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of GSK by 5.8% in the third quarter. Foster Victor Wealth Advisors LLC now owns 438,220 shares of the pharmaceutical company’s stock valued at $21,674,000 after acquiring an additional 23,934 shares during the period. Institutional investors and hedge funds own 15.74% of the company’s stock.

GSK Stock Performance

Shares of NYSE GSK opened at $50.63 on Friday. The business has a fifty day simple moving average of $49.30 and a 200 day simple moving average of $52.40. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $102.42 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 2.27 and a beta of 0.29. GSK PLC Sponsored ADR has a one year low of $45.81 and a one year high of $61.69.

GSK Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Friday, November 13th will be paid a $0.4518 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.81 dividend on an annualized basis and a dividend yield of 3.6%. This is a positive change from GSK’s previous quarterly dividend of $0.4515. GSK’s dividend payout ratio is currently 61.46%.

Analysts Set New Price Targets

GSK has been the topic of a number of research reports. Morgan Stanley reaffirmed an “underweight” rating on shares of GSK in a research report on Tuesday, August 25th. Berenberg Bank restated a “buy” rating on shares of GSK in a report on Tuesday, October 6th. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $67.40 to $55.90 in a report on Thursday, October 29th. Wall Street Zen lowered shares of GSK from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Citigroup initiated coverage on shares of GSK in a research note on Friday, July 24th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, GSK presently has a consensus rating of “Hold” and an average price target of $56.30.

GSK Company Profile

GSK plc is a global biopharmaceutical company headquartered in the United Kingdom. It researches, develops and manufactures medicines and vaccines, with a focus on areas including infectious diseases, HIV, respiratory and immune conditions, and cancer. Its products include vaccines such as Shingrix, which helps prevent shingles, and Arexvy, for respiratory syncytial virus (RSV). GSK also makes specialty medicines, including treatments for HIV and respiratory diseases, and continues to develop new medicines and vaccines through its research programs.