Sound Income Strategies LLC Sells 16,037 Shares of GSK PLC Sponsored ADR $GSK

Sound Income Strategies LLC decreased its holdings in GSK PLC Sponsored ADR (NYSE:GSK) by 3.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 396,020 shares of the pharmaceutical company’s stock after selling 16,037 shares during the period. Sound Income Strategies LLC’s holdings in GSK were worth $19,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GSK. CNB Bank bought a new position in GSK during the third quarter valued at approximately $31,000. CoreFirst Bank & Trust bought a new position in GSK during the second quarter valued at approximately $33,000. Triumph Capital Management bought a new stake in shares of GSK in the 3rd quarter valued at approximately $40,000. Salomon & Ludwin LLC lifted its stake in shares of GSK by 444.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 952 shares of the pharmaceutical company’s stock valued at $41,000 after purchasing an additional 777 shares during the last quarter. 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. 15.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GSK has been the subject of several analyst reports. Morgan Stanley reaffirmed an “underweight” rating on shares of GSK in a research note on Wednesday, January 14th. Weiss Ratings lowered GSK from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Wall Street Zen lowered GSK from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of GSK in a research note on Friday, January 16th. Finally, Barclays reaffirmed an “underweight” rating on shares of GSK in a research note on Friday, February 20th. One research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $44.13.

GSK Trading Down 0.5%

Shares of NYSE GSK opened at $56.39 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 business’s 50 day moving average price is $55.95 and its 200-day moving average price is $49.97. GSK PLC Sponsored ADR has a fifty-two week low of $32.38 and a fifty-two week high of $61.69. The company has a market cap of $114.56 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 3.43 and a beta of 0.46.

GSK Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Shareholders of record on Friday, February 20th will be issued a dividend of $0.4856 per share. This represents a $1.94 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, February 20th. This is an increase from GSK’s previous quarterly dividend of $0.42. GSK’s dividend payout ratio (DPR) is 51.62%.

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.