Moneco Advisors LLC Sells 50,782 Shares of GSK PLC Sponsored ADR $GSK

Moneco Advisors LLC lowered its stake in GSK PLC Sponsored ADR (NYSE:GSK) by 83.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,985 shares of the pharmaceutical company’s stock after selling 50,782 shares during the period. Moneco Advisors LLC’s holdings in GSK were worth $481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GSK. Mondrian Investment Partners LTD increased its holdings in shares of GSK by 1.1% during the third quarter. Mondrian Investment Partners LTD now owns 4,965,946 shares of the pharmaceutical company’s stock worth $239,210,000 after buying an additional 55,116 shares in the last quarter. Equity Investment Corp boosted its holdings in shares of GSK by 8.9% during the 3rd quarter. Equity Investment Corp now owns 3,560,824 shares of the pharmaceutical company’s stock valued at $171,525,000 after acquiring an additional 291,059 shares in the last quarter. NewEdge Advisors LLC boosted its stake 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 valued at $49,986,000 after purchasing an additional 852,437 shares in the last quarter. Foster Victor Wealth Advisors LLC raised its holdings in GSK by 5.8% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 438,220 shares of the pharmaceutical company’s stock valued at $21,674,000 after buying an additional 23,934 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in GSK by 2.7% during the 3rd quarter. Sound Income Strategies LLC now owns 348,273 shares of the pharmaceutical company’s stock worth $16,209,000 after buying an additional 9,218 shares during the period. Institutional investors own 15.74% of the company’s stock.

GSK Price Performance

Shares of GSK opened at $50.63 on Friday. GSK PLC Sponsored ADR has a 1 year low of $45.81 and a 1 year high of $61.69. The company has a debt-to-equity ratio of 1.18, a current ratio of 0.86 and a quick ratio of 0.56. The company has a market capitalization of $102.42 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 2.27 and a beta of 0.29. The business has a 50-day moving average of $49.30 and a 200-day moving average of $52.40.

GSK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Friday, November 13th will be given 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 boost from GSK’s previous quarterly dividend of $0.4515. GSK’s payout ratio is currently 61.46%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GSK. Deutsche Bank reissued a “neutral” rating on shares of GSK in a report on Tuesday, September 29th. Jefferies Financial Group downgraded shares of GSK from a “buy” rating to a “hold” rating and dropped their price target for the company from $67.40 to $55.90 in a research note on Thursday, October 29th. HSBC reaffirmed a “hold” rating on shares of GSK in a research note on Thursday, September 10th. Barclays reissued a “sell” rating on shares of GSK in a research note on Monday, September 7th. Finally, Wall Street Zen cut shares of GSK from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.