GSK PLC Sponsored ADR $GSK Shares Sold by Kahn Brothers Group Inc.

Kahn Brothers Group Inc. cut its position in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 60.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,837 shares of the pharmaceutical company’s stock after selling 399,035 shares during the period. GSK makes up 2.1% of Kahn Brothers Group Inc.’s holdings, making the stock its 14th biggest holding. Kahn Brothers Group Inc.’s holdings in GSK were worth $11,258,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. TOWER TRUST & INVESTMENT Co raised its position in shares of GSK by 1.3% during the 3rd quarter. TOWER TRUST & INVESTMENT Co now owns 23,195 shares of the pharmaceutical company’s stock valued at $1,001,000 after buying an additional 293 shares during the period. EverSource Wealth Advisors LLC increased its stake in GSK by 16.0% during the third quarter. EverSource Wealth Advisors LLC now owns 2,854 shares of the pharmaceutical company’s stock worth $123,000 after acquiring an additional 393 shares during the last quarter. HighPoint Advisor Group LLC increased its stake in GSK by 2.9% during the third quarter. HighPoint Advisor Group LLC now owns 14,893 shares of the pharmaceutical company’s stock worth $643,000 after acquiring an additional 415 shares during the last quarter. Valeo Financial Advisors LLC raised its position in GSK by 3.8% in the second quarter. Valeo Financial Advisors LLC now owns 13,079 shares of the pharmaceutical company’s stock valued at $502,000 after purchasing an additional 478 shares during the period. Finally, Westside Investment Management Inc. lifted its stake in shares of GSK by 98.6% in the 3rd quarter. Westside Investment Management Inc. now owns 991 shares of the pharmaceutical company’s stock valued at $45,000 after purchasing an additional 492 shares during the last quarter. Hedge funds and other institutional investors own 15.74% of the company’s stock.

Insider Buying and Selling at GSK

In related news, major shareholder Plc Gsk acquired 1,470,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were acquired at an average price of $19.00 per share, with a total value of $27,930,000.00. Following the completion of the transaction, the insider owned 18,245,691 shares of the company’s stock, valued at $346,668,129. The trade was a 8.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GSK. Bank of America raised GSK from an “underperform” rating to a “neutral” rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of GSK in a research note on Friday, January 16th. Morgan Stanley reissued an “underweight” rating on shares of GSK in a research note on Wednesday, January 14th. TD Cowen reaffirmed a “hold” rating on shares of GSK in a research report on Monday, February 9th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of GSK in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $44.13.

GSK Trading Down 1.4%

NYSE GSK opened at $58.28 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.54 and a current ratio of 0.82. The firm has a market cap of $118.78 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 3.58 and a beta of 0.44. The firm has a 50 day simple moving average of $53.35 and a 200-day simple moving average of $47.40. GSK PLC Sponsored ADR has a one year low of $32.38 and a one year high of $61.69.

GSK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, February 20th will be paid a $0.4856 dividend. This represents a $1.94 annualized dividend and a dividend yield of 3.3%. This is a positive change from GSK’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, February 20th. GSK’s payout ratio is presently 51.62%.

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.