371,099 GSK PLC Sponsored ADR $GSK Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its stake in GSK PLC Sponsored ADR (NYSE:GSK) by 1.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 35,351,693 shares of the pharmaceutical company’s stock after selling 371,099 shares during the quarter. Fisher Asset Management LLC’s holdings in GSK were worth $1,702,891,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Security National Bank of SO Dak bought a new position in shares of GSK during the 2nd quarter worth approximately $38,000. Laurel Wealth Advisors LLC acquired a new stake in GSK in the 3rd quarter valued at $36,000. Trust Co. of Vermont bought a new stake in GSK in the second quarter valued at $54,000. Provenance Wealth Advisors LLC grew its position in GSK by 378.8% in the third quarter. Provenance Wealth Advisors LLC now owns 1,149 shares of the pharmaceutical company’s stock valued at $55,000 after acquiring an additional 909 shares during the period. Finally, Philadelphia Investment Partners LLC acquired a new position in GSK during the second quarter worth $70,000. 15.74% of the stock is owned by institutional investors and hedge funds.

GSK Stock Up 0.1%

Shares of GSK opened at $50.63 on Friday. The company has a market capitalization of $102.42 billion, a P/E ratio of 10.65, a PEG ratio of 2.27 and a beta of 0.29. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.86 and a quick ratio of 0.56. GSK PLC Sponsored ADR has a one year low of $45.81 and a one year high of $61.69. The business’s 50 day simple moving average is $49.30 and its 200-day simple moving average is $52.40.

GSK Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GSK shares. Barclays reissued a “sell” rating on shares of GSK in a report on Monday, September 7th. Weiss Ratings restated a “hold (c+)” rating on shares of GSK in a research note on Tuesday, October 27th. Citigroup assumed coverage on shares of GSK in a report on Friday, July 24th. They issued a “neutral” rating on the stock. HSBC reiterated a “hold” rating on shares of GSK in a research report on Thursday, September 10th. Finally, Wolfe Research started coverage on shares of GSK in a report on Friday, October 9th. They set an “outperform” rating and a $70.00 price target for the company. Three analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.30.

GSK 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.