Advisors Asset Management Inc. grew its holdings in GlaxoSmithKline plc (NYSE:GSK) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,442 shares of the pharmaceutical company’s stock after purchasing an additional 13,447 shares during the period. Advisors Asset Management Inc.’s holdings in GlaxoSmithKline were worth $6,961,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Proficio Capital Partners LLC grew its stake in GlaxoSmithKline by 16.1% during the second quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock valued at $135,000 after acquiring an additional 457 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in GlaxoSmithKline by 1.9% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 64 shares in the last quarter. FTB Advisors Inc. grew its stake in GlaxoSmithKline by 16.9% in the 2nd quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock worth $146,000 after buying an additional 539 shares in the last quarter. Quadrant Capital Group LLC grew its stake in GlaxoSmithKline by 3.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock worth $162,000 after buying an additional 148 shares in the last quarter. Finally, Parallel Advisors LLC grew its stake in GlaxoSmithKline by 93.4% in the 2nd quarter. Parallel Advisors LLC now owns 4,048 shares of the pharmaceutical company’s stock worth $164,000 after buying an additional 1,955 shares in the last quarter. 9.83% of the stock is owned by institutional investors.
GlaxoSmithKline plc (GSK) traded down $0.32 during trading hours on Monday, reaching $35.00. 4,235,601 shares of the company were exchanged, compared to its average volume of 3,487,374. GlaxoSmithKline plc has a 52 week low of $34.72 and a 52 week high of $44.53. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 2.96. The company has a market cap of $85,040.00, a price-to-earnings ratio of 12.52, a P/E/G ratio of 1.96 and a beta of 0.97.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be issued a dividend of $0.5037 per share. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.01 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend is Thursday, November 9th. GlaxoSmithKline’s dividend payout ratio is currently 155.47%.
In other news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was bought at an average cost of $14.00 per share, for a total transaction of $5,999,994.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.00% of the company’s stock.
A number of equities analysts have commented on the stock. Investec cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline in a research note on Thursday, September 14th. Bank of America lowered shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. Argus lowered their price objective on shares of GlaxoSmithKline to $40.00 and set a “buy” rating for the company in a report on Thursday. Finally, TheStreet upgraded shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. GlaxoSmithKline presently has a consensus rating of “Hold” and an average price target of $39.71.
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GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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