Sound Income Strategies LLC Sells 55,546 Shares of GSK PLC Sponsored ADR $GSK

Sound Income Strategies LLC decreased its position in GSK PLC Sponsored ADR (NYSE:GSK) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of GSK. First Horizon Corp grew its stake 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 purchasing an additional 236 shares during the last quarter. Elyxium Wealth LLC bought a new position in GSK during the 4th quarter valued at approximately $30,000. Triumph Capital Management bought a new position in GSK during the 3rd quarter valued at approximately $40,000. 1248 Management LLC lifted its holdings in GSK by 314.6% in the 3rd quarter. 1248 Management LLC now owns 1,053 shares of the pharmaceutical company’s stock worth $46,000 after buying an additional 799 shares during the period. Finally, Coston McIsaac & Partners lifted its holdings in GSK by 17.3% in the 4th quarter. Coston McIsaac & Partners now owns 1,395 shares of the pharmaceutical company’s stock worth $68,000 after buying an additional 206 shares during the period. 15.74% of the stock is owned by institutional investors.

GSK Price Performance

GSK stock opened at $53.69 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.79 and a quick ratio of 0.52. GSK PLC Sponsored ADR has a 1 year low of $35.45 and a 1 year high of $61.69. The firm has a 50-day moving average of $51.60 and a 200 day moving average of $53.08. The company has a market cap of $108.72 billion, a P/E ratio of 13.95, a PEG ratio of 3.30 and a beta of 0.35.

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 given a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.76 annualized dividend and a dividend yield of 3.3%. GSK’s dividend payout ratio is currently 47.01%.

Analyst Ratings Changes

Several research firms have recently issued reports on GSK. Royal Bank Of Canada reissued an “outperform” rating on shares of GSK in a research note on Tuesday, June 9th. Wall Street Zen raised GSK from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings cut shares of GSK from a “buy (b)” rating to a “buy (b-)” rating in a 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, the company has an average rating of “Hold” and a consensus price target of $53.00.

GSK Profile

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.