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

Kahn Brothers Group Inc. lessened its stake in GSK PLC Sponsored ADR (NYSE:GSK) by 60.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 260,837 shares of the pharmaceutical company’s stock after selling 399,035 shares during the quarter. GSK comprises 2.1% of Kahn Brothers Group Inc.’s portfolio, making the stock its 14th largest holding. Kahn Brothers Group Inc.’s holdings in GSK were worth $11,258,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Bard Financial Services Inc. lifted its stake in GSK by 17.4% in the third quarter. Bard Financial Services Inc. now owns 158,145 shares of the pharmaceutical company’s stock worth $6,826,000 after acquiring an additional 23,400 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of GSK by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 32,227,615 shares of the pharmaceutical company’s stock valued at $1,390,944,000 after purchasing an additional 889,210 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of GSK in the 4th quarter valued at $528,000. Quantbot Technologies LP lifted its position in shares of GSK by 184.6% during the 2nd quarter. Quantbot Technologies LP now owns 138,898 shares of the pharmaceutical company’s stock worth $5,334,000 after purchasing an additional 90,097 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its stake in shares of GSK by 54.0% during the third quarter. Great Lakes Advisors LLC now owns 49,279 shares of the pharmaceutical company’s stock worth $2,127,000 after purchasing an additional 17,273 shares in the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Trading Down 1.4%

NYSE:GSK opened at $58.28 on Tuesday. The company has a market capitalization of $118.78 billion, a PE ratio of 15.75, a P/E/G ratio of 3.58 and a beta of 0.44. GSK PLC Sponsored ADR has a 52-week low of $32.38 and a 52-week high of $61.69. The stock’s 50 day moving average price is $53.35 and its 200 day moving average price is $47.40. The company has a quick ratio of 0.54, a current ratio of 0.82 and a debt-to-equity ratio of 0.92.

GSK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Friday, February 20th will be given a dividend of $0.4856 per share. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.3%. This is a boost from GSK’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, February 20th. GSK’s payout ratio is 51.62%.

Analyst Ratings Changes

A number of research firms have weighed in on GSK. Barclays restated an “underweight” rating on shares of GSK in a research note on Friday, February 20th. HSBC reissued a “reduce” rating on shares of GSK in a research report on Wednesday, December 10th. TD Cowen reaffirmed a “hold” rating on shares of GSK in a report on Monday, February 9th. Citigroup reissued a “neutral” rating on shares of GSK in a report on Monday, February 9th. Finally, Bank of America upgraded shares of GSK from an “underperform” rating to a “neutral” rating in a research report on Tuesday, November 25th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GSK presently has an average rating of “Reduce” and an average target price of $44.13.

Insider Activity at GSK

In other GSK news, major shareholder Plc Gsk purchased 1,470,000 shares of GSK stock in a transaction that occurred on Thursday, December 11th. The stock was purchased at an average price of $19.00 per share, for a total transaction of $27,930,000.00. Following the transaction, the insider directly owned 18,245,691 shares in the company, valued at $346,668,129. This trade represents a 8.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 10.00% of the stock is owned by insiders.

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.