Bank of New York Mellon Corp Reduces Stock Holdings in GSK PLC Sponsored ADR $GSK

Bank of New York Mellon Corp lessened its position in shares of GSK PLC Sponsored ADR (NYSE:GSK) by 13.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 808,139 shares of the pharmaceutical company’s stock after selling 129,449 shares during the quarter. Bank of New York Mellon Corp’s holdings in GSK were worth $44,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in GSK. Brighton Jones LLC purchased a new stake in GSK in the 4th quarter valued at approximately $528,000. AQR Capital Management LLC increased its position in GSK by 84.4% during the first quarter. AQR Capital Management LLC now owns 40,239 shares of the pharmaceutical company’s stock worth $1,559,000 after buying an additional 18,420 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of GSK by 2.1% in the first quarter. Empowered Funds LLC now owns 79,174 shares of the pharmaceutical company’s stock worth $3,067,000 after acquiring an additional 1,598 shares during the last quarter. Rhumbline Advisers lifted its position in shares of GSK by 20.7% in the second quarter. Rhumbline Advisers now owns 22,209 shares of the pharmaceutical company’s stock valued at $853,000 after acquiring an additional 3,806 shares in the last quarter. Finally, Gabelli Funds LLC lifted its position in shares of GSK by 17.8% in the second quarter. Gabelli Funds LLC now owns 7,960 shares of the pharmaceutical company’s stock valued at $306,000 after acquiring an additional 1,200 shares in the last quarter. 15.74% of the stock is currently owned by hedge funds and other institutional investors.

GSK Price Performance

GSK stock opened at $51.38 on Friday. The firm has a market cap of $103.92 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 3.23 and a beta of 0.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.52 and a current ratio of 0.79. GSK PLC Sponsored ADR has a 1 year low of $36.75 and a 1 year high of $61.69. The stock has a 50-day simple moving average of $51.58 and a 200-day simple moving average of $53.39.

GSK Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Friday, May 15th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. GSK’s payout ratio is presently 46.49%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank Of Canada reiterated an “outperform” rating on shares of GSK in a research report on Tuesday, June 9th. Wall Street Zen raised shares of GSK from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Weiss Ratings downgraded shares of GSK from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Citigroup reissued a “neutral” rating on shares of GSK in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of GSK in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, GSK has an average rating of “Hold” and a consensus price target of $53.00.

Key GSK News

Here are the key news stories impacting GSK this week:

• Positive Sentiment: The FDA approved Jideytro for previously treated ROS1-positive non-small cell lung cancer, marking GSK’s first lung cancer approval and a new catalyst for its oncology pipeline. Article
• Positive Sentiment: Analysts and market commentary highlighted Jideytro’s approval as potentially undervalued, suggesting investors may be underestimating the earnings contribution from GSK’s precision oncology assets. Article
• Positive Sentiment: GSK also received approval in Canada for a prefilled syringe presentation of Shingrix, which should support vaccine convenience and commercial execution. Article
• Neutral Sentiment: Citigroup reaffirmed its neutral rating on GSK, indicating the approval news is positive but not enough to change the bank’s stance yet. Article

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.