Meyer Handelman Co. reduced its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 4.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,384 shares of the pharmaceutical company’s stock after selling 2,000 shares during the quarter. Meyer Handelman Co.’s holdings in GlaxoSmithKline were worth $1,779,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of GSK. Wealthcare Advisory Partners LLC grew its position in shares of GlaxoSmithKline by 6.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,020 shares of the pharmaceutical company’s stock worth $154,000 after buying an additional 249 shares during the period. 1832 Asset Management L.P. grew its position in GlaxoSmithKline by 35.2% during the 4th quarter. 1832 Asset Management L.P. now owns 967 shares of the pharmaceutical company’s stock valued at $37,000 after purchasing an additional 252 shares during the last quarter. Reilly Financial Advisors LLC grew its position in GlaxoSmithKline by 36.7% during the 1st quarter. Reilly Financial Advisors LLC now owns 950 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 255 shares during the last quarter. Courier Capital LLC grew its position in GlaxoSmithKline by 3.0% during the 4th quarter. Courier Capital LLC now owns 9,025 shares of the pharmaceutical company’s stock valued at $345,000 after purchasing an additional 260 shares during the last quarter. Finally, grace capital grew its position in GlaxoSmithKline by 2.7% during the 4th quarter. grace capital now owns 9,833 shares of the pharmaceutical company’s stock valued at $376,000 after purchasing an additional 263 shares during the last quarter. 11.31% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Plc Glaxosmithkline bought 325,000 shares of the stock in a transaction on Monday, April 22nd. The shares were acquired at an average price of $18.00 per share, for a total transaction of $5,850,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.00% of the stock is currently owned by corporate insiders.
GSK traded up $0.19 during midday trading on Friday, hitting $40.18. 1,693,124 shares of the company traded hands, compared to its average volume of 2,730,313. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.48 and a current ratio of 0.72. The stock has a market capitalization of $99.57 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.03 and a beta of 0.74. GlaxoSmithKline plc has a 52 week low of $36.41 and a 52 week high of $42.36.
GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Wednesday, May 1st. The pharmaceutical company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.13. The business had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $9.86 billion. GlaxoSmithKline had a net margin of 12.27% and a return on equity of 171.27%. Research analysts forecast that GlaxoSmithKline plc will post 2.92 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.4953 per share. This represents a $1.98 annualized dividend and a yield of 4.93%. The ex-dividend date is Thursday, May 16th. GlaxoSmithKline’s dividend payout ratio is currently 61.71%.
Several analysts recently commented on GSK shares. UBS Group downgraded shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Tuesday, April 23rd. Finally, Shore Capital downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $41.83.
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GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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