Fisher Asset Management LLC Acquires 968,370 Shares of GSK PLC Sponsored ADR $GSK

Fisher Asset Management LLC boosted its holdings in GSK PLC Sponsored ADR (NYSE:GSK) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,195,985 shares of the pharmaceutical company’s stock after purchasing an additional 968,370 shares during the period. Fisher Asset Management LLC’s holdings in GSK were worth $1,627,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in GSK by 27.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,635 shares of the pharmaceutical company’s stock valued at $178,000 after purchasing an additional 781 shares in the last quarter. Elyxium Wealth LLC bought a new position in GSK in the fourth quarter valued at $30,000. Leuthold Group LLC bought a new position in GSK in the fourth quarter valued at $4,922,000. Valeo Financial Advisors LLC grew its position in GSK by 6.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 14,932 shares of the pharmaceutical company’s stock valued at $732,000 after purchasing an additional 854 shares in the last quarter. Finally, Coston McIsaac & Partners grew its position in GSK by 17.3% in the fourth quarter. Coston McIsaac & Partners now owns 1,395 shares of the pharmaceutical company’s stock valued at $68,000 after purchasing an additional 206 shares in the last quarter. Institutional investors own 15.74% of the company’s stock.

GSK Stock Performance

NYSE GSK opened at $51.38 on Monday. The firm has a 50-day moving average of $53.92 and a 200-day moving average of $52.31. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.52 and a current ratio of 0.79. The stock has a market cap of $104.27 billion, a PE ratio of 13.35, a P/E/G ratio of 2.63 and a beta of 0.38. GSK PLC Sponsored ADR has a 52-week low of $35.45 and a 52-week high of $61.69.

GSK Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Friday, May 15th will be paid a $0.44 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.76 annualized dividend and a yield of 3.4%. GSK’s payout ratio is 47.01%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GSK. Barclays reaffirmed an “underweight” rating on shares of GSK in a research report on Friday, February 20th. Wall Street Zen cut shares of GSK from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Citigroup reiterated a “neutral” rating on shares of GSK in a research note on Monday, February 9th. 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 reiterated a “hold” rating on shares of GSK in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $53.00.

GSK Company 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.