Cullen Frost Bankers Inc. Decreases Holdings in GSK PLC Sponsored ADR $GSK

Cullen Frost Bankers Inc. lowered its stake in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 344,786 shares of the pharmaceutical company’s stock after selling 26,341 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in GSK were worth $16,908,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of GSK during the 4th quarter valued at approximately $528,000. AQR Capital Management LLC raised its holdings in GSK by 84.4% during the 1st quarter. AQR Capital Management LLC now owns 40,239 shares of the pharmaceutical company’s stock valued at $1,559,000 after acquiring an additional 18,420 shares during the period. Empowered Funds LLC lifted its position in shares of GSK by 2.1% during the first quarter. Empowered Funds LLC now owns 79,174 shares of the pharmaceutical company’s stock worth $3,067,000 after acquiring an additional 1,598 shares in the last quarter. Rhumbline Advisers lifted its position in shares of GSK by 20.7% during the second quarter. Rhumbline Advisers now owns 22,209 shares of the pharmaceutical company’s stock worth $853,000 after acquiring an additional 3,806 shares in the last quarter. Finally, Gabelli Funds LLC boosted its holdings in shares of GSK by 17.8% in the second quarter. Gabelli Funds LLC now owns 7,960 shares of the pharmaceutical company’s stock worth $306,000 after acquiring an additional 1,200 shares during the period. Institutional investors own 15.74% of the company’s stock.

Analyst Upgrades and Downgrades

GSK has been the subject of a number of recent analyst reports. Citigroup reaffirmed a “neutral” rating on shares of GSK in a report on Monday, February 9th. Barclays restated an “underweight” rating on shares of GSK in a research report on Friday, February 20th. Wall Street Zen lowered shares of GSK from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings upgraded shares of GSK from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, May 1st. Finally, TD Cowen reissued a “hold” rating on shares of GSK in a report on Monday, February 9th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $53.00.

GSK Stock Performance

GSK stock opened at $50.78 on Thursday. The firm has a fifty day simple moving average of $54.07 and a two-hundred day simple moving average of $52.24. The company has a quick ratio of 0.52, a current ratio of 0.79 and a debt-to-equity ratio of 0.80. GSK PLC Sponsored ADR has a twelve month low of $35.45 and a twelve month high of $61.69. The company has a market capitalization of $103.03 billion, a PE ratio of 13.20, a P/E/G ratio of 2.61 and a beta of 0.38.

GSK Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Friday, May 15th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, May 15th. GSK’s payout ratio is presently 47.01%.

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.