See all posts by Edward Sheldon, CFA FREE REPORT: Why this £5 stock could be set to surge Edward Sheldon, CFA | Wednesday, 16th June, 2021 | More on: GSK Simply click below to discover how you can take advantage of this. Our 6 ‘Best Buys Now’ Shares Why I just sold my GSK shares I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Enter Your Email Address Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Recently, I’ve been taking the opportunity to sell a few of my stock holdings in order to concentrate my portfolio on my best ideas. FTSE 100 pharmaceutical giant GlaxoSmithKline (LSE:GSK) is one I’ve sold from my portfolio.Here, I’ll explain why I sold my GSK shares. I’ll also explain where I’m planning to invest the proceeds of my sale.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…GSK shares: why I sold There are a few reasons I sold them. The first is that growth has been underwhelming in recent years. Last year, revenue growth was just 1%. This year, it’s expected to fall 3%.Of course, GSK has been impacted by Covid-19. Its vaccines division, in particular, has been hit hard because routine vaccination programmes have been abandoned during the pandemic. Revenues in this segment should bounce back post-Covid-19.However, overall, I see the company’s growth as disappointing. This year, analysts expect the company to generate earnings per share (EPS) of 98.6p. That’s about 4% below the EPS it generated in 2011.A dividend cut is comingAnother reason I sold GSK is that I’ve been frustrated with the dividend. Sure, the yield has been high in recent years. I was receiving a yield of about 6% from GSK, so I can’t complain about that. However, the dividend payout hasn’t been increased for over five years now. That means it’s fallen in real terms over time.Additionally, GSK is shortly about to implement a new dividend policy. It has said that from next year, aggregate distributions are expected to be lower than at present. That’s disappointing from a dividend investing perspective.GSK is set for a split upFinally, GSK is planning to split itself into two companies next year. I think this is a good move that could help unlock value. However, my holding in GSK was already quite small (less than 1% of my stock portfolio). The split would have resulted in two even smaller holdings. So, I figured it was best to offload the stock now.I’ll point out that I still think GlaxoSmithKline is a decent stock to own. The company operates in growth industries. And the stock’s valuation looks very reasonable. However, after looking at the investment case, I concluded that there were other stocks that are a better fit for my portfolio right now.Where I’m going to invest nowAs for where I’m going to invest now, I still like the healthcare sector. I’m keen to boost my exposure to this sector. However, I’d like to invest in companies that are generating more growth.Some names I’ve been looking at include medical technology company Stryker and robotic surgery specialist Intuitive Surgical. These two companies are growing rapidly. They’ve generated five-year revenue growth of 44% and 83% respectively. I think they could be good stocks to buy when there’s some market volatility.I’m also considering adding to the other healthcare stocks I own at present – orthopedic reconstruction specialist Smith & Nephew, virtual healthcare provider Teladoc Health, and petcare specialist IDEXX Laboratories. In the long run, I think these healthcare stocks have a lot of potential. Image source: Getty Images. Edward Sheldon owns shares in Smith & Nephew, Teladoc Health and IDEXX Laboratories. The Motley Fool UK owns shares of and has recommended Teladoc Health. The Motley Fool UK has recommended GlaxoSmithKline, Idexx Laboratories, and Smith & Nephew. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Get the full details on this £5 stock now – while your report is free.