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

Bank of New York Mellon Corp lowered its position in GSK PLC Sponsored ADR (NYSE:GSK) by 13.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 808,139 shares of the pharmaceutical company’s stock after selling 129,449 shares during the period. Bank of New York Mellon Corp’s holdings in GSK were worth $44,601,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in shares of GSK during the 4th quarter worth approximately $528,000. Prime Capital Investment Advisors LLC increased its holdings in shares of GSK by 182.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 30,188 shares of the pharmaceutical company’s stock valued at $1,480,000 after purchasing an additional 19,509 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of GSK by 146.6% in the fourth quarter. Farther Finance Advisors LLC now owns 29,529 shares of the pharmaceutical company’s stock valued at $1,448,000 after purchasing an additional 17,553 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in GSK during the fourth quarter worth approximately $6,385,000. Finally, Fisher Asset Management LLC lifted its position in GSK by 3.0% during the fourth quarter. Fisher Asset Management LLC now owns 33,195,985 shares of the pharmaceutical company’s stock worth $1,627,931,000 after buying an additional 968,370 shares in the last quarter. Institutional investors and hedge funds own 15.74% of the company’s stock.

Trending Headlines about GSK

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 Stock Performance

NYSE GSK opened at $51.38 on Friday. The stock has a market capitalization of $103.92 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 3.23 and a beta of 0.35. The business’s 50 day moving average is $51.58 and its two-hundred day moving average is $53.39. GSK PLC Sponsored ADR has a 12-month low of $36.75 and a 12-month high of $61.69. The company has a current ratio of 0.79, a quick ratio of 0.52 and a debt-to-equity ratio of 0.80.

GSK Cuts Dividend

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

Analysts Set New Price Targets

GSK has been the subject of several analyst reports. HSBC upgraded GSK from a “reduce” rating to a “hold” rating in a report on Monday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of GSK in a research note on Tuesday, June 9th. Weiss Ratings lowered GSK from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, June 11th. Wall Street Zen upgraded shares of GSK from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Jefferies Financial Group raised GSK to a “strong-buy” rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” 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.