Steward Partners Investment Advisory LLC trimmed its holdings in shares of GlaxoSmithKline plc (NYSE:GSK) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,318 shares of the pharmaceutical company’s stock after selling 5,988 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in GlaxoSmithKline were worth $3,147,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in GSK. Bank of New York Mellon Corp increased its position in shares of GlaxoSmithKline by 1,788.6% during the third quarter. Bank of New York Mellon Corp now owns 2,306,091 shares of the pharmaceutical company’s stock worth $92,636,000 after purchasing an additional 2,183,983 shares in the last quarter. Boston Partners purchased a new stake in shares of GlaxoSmithKline during the fourth quarter worth approximately $65,234,000. Morgan Stanley increased its position in shares of GlaxoSmithKline by 16.5% during the third quarter. Morgan Stanley now owns 4,212,892 shares of the pharmaceutical company’s stock worth $169,232,000 after purchasing an additional 597,367 shares in the last quarter. Norges Bank purchased a new stake in shares of GlaxoSmithKline during the fourth quarter worth approximately $17,275,000. Finally, Two Sigma Investments LP purchased a new stake in shares of GlaxoSmithKline during the fourth quarter worth approximately $15,936,000. 11.31% of the stock is owned by institutional investors and hedge funds.
NYSE:GSK traded up $0.19 during trading hours on Friday, hitting $40.18. The company had a trading volume of 1,693,124 shares, compared to its average volume of 2,730,313. The company has a quick ratio of 0.48, a current ratio of 0.72 and a debt-to-equity ratio of 6.92. The stock has a market cap of $99.57 billion, a P/E ratio of 12.72, a PEG ratio of 2.03 and a beta of 0.74. GlaxoSmithKline plc has a 1 year low of $36.41 and a 1 year high of $42.36.
GlaxoSmithKline (NYSE:GSK) last issued 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 company had revenue of $9.98 billion during the quarter, compared to analysts’ expectations of $9.86 billion. GlaxoSmithKline had a return on equity of 171.27% and a net margin of 12.27%. On average, equities analysts anticipate that GlaxoSmithKline plc will post 2.92 earnings per share for the current 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 issued a $0.4953 dividend. This represents a $1.98 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, May 16th. GlaxoSmithKline’s payout ratio is currently 61.71%.
GSK has been the subject of several research reports. Zacks Investment Research upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Tuesday, April 23rd. Shore Capital cut GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. Finally, UBS Group cut GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $41.83.
In related news, Director Plc Glaxosmithkline bought 325,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was bought at an average cost 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 can be accessed through this link. 10.00% of the stock is owned by corporate insiders.
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GlaxoSmithKline Company Profile
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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