GSK PLC Sponsored ADR (NYSE:GSK) Sees Significant Drop in Short Interest

GSK PLC Sponsored ADR (NYSE:GSK) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 10,805,377 shares, a drop of 17.3% from the February 12th total of 13,069,554 shares. Based on an average daily trading volume, of 5,843,563 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.6% of the shares of the stock are short sold. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 5,843,563 shares, the days-to-cover ratio is presently 1.8 days.

GSK Trading Down 2.5%

Shares of NYSE:GSK traded down $1.34 during trading on Wednesday, hitting $52.07. 888,165 shares of the company’s stock were exchanged, compared to its average volume of 5,663,752. The company has a current ratio of 0.82, a quick ratio of 0.54 and a debt-to-equity ratio of 0.92. The firm has a market cap of $106.11 billion, a P/E ratio of 14.10, a PEG ratio of 3.25 and a beta of 0.44. The firm has a 50-day moving average price of $54.61 and a two-hundred day moving average price of $48.59. GSK has a 1-year low of $32.38 and a 1-year high of $61.69.

GSK Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Friday, February 20th will be given a $0.4856 dividend. The ex-dividend date is Friday, February 20th. This represents a $1.94 annualized dividend and a dividend yield of 3.7%. This is an increase from GSK’s previous quarterly dividend of $0.42. GSK’s dividend payout ratio is 51.62%.

Hedge Funds Weigh In On GSK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC increased its stake in shares of GSK by 1.3% in the 4th quarter. IHT Wealth Management LLC now owns 15,010 shares of the pharmaceutical company’s stock valued at $736,000 after acquiring an additional 188 shares during the last quarter. Coston McIsaac & Partners grew its holdings in GSK by 17.3% during 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 during the period. First Horizon Corp grew its holdings in GSK by 78.7% during the fourth quarter. First Horizon Corp now owns 536 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 236 shares during the period. TOWER TRUST & INVESTMENT Co increased its stake in GSK by 1.3% in the third quarter. TOWER TRUST & INVESTMENT Co now owns 23,195 shares of the pharmaceutical company’s stock valued at $1,001,000 after purchasing an additional 293 shares in the last quarter. Finally, Peoples Bank KS raised its holdings in GSK by 6.3% in the fourth quarter. Peoples Bank KS now owns 5,030 shares of the pharmaceutical company’s stock worth $247,000 after purchasing an additional 300 shares during the period. Institutional investors own 15.74% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays reiterated an “underweight” rating on shares of GSK in a research report on Friday, February 20th. TD Cowen reiterated a “hold” rating on shares of GSK in a research report on Monday, February 9th. HSBC reissued a “reduce” rating on shares of GSK in a research note on Wednesday, December 10th. Morgan Stanley restated an “underweight” rating on shares of GSK in a research report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of GSK in a report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, GSK presently has a consensus rating of “Reduce” and a consensus target price of $44.13.

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.