First Allied Advisory Services Inc. Increases Stake in GlaxoSmithKline plc (GSK)

First Allied Advisory Services Inc. raised its stake in GlaxoSmithKline plc (NYSE:GSK) by 194.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 179,678 shares of the pharmaceutical company’s stock after purchasing an additional 118,697 shares during the period. First Allied Advisory Services Inc.’s holdings in GlaxoSmithKline were worth $7,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of GSK. Geode Capital Management LLC grew its stake in GlaxoSmithKline by 46.3% in the first quarter. Geode Capital Management LLC now owns 129,145 shares of the pharmaceutical company’s stock valued at $5,444,000 after purchasing an additional 40,858 shares during the last quarter. Bessemer Group Inc. grew its stake in GlaxoSmithKline by 22.9% in the second quarter. Bessemer Group Inc. now owns 28,734 shares of the pharmaceutical company’s stock valued at $1,239,000 after purchasing an additional 5,356 shares during the last quarter. TD Asset Management Inc. grew its stake in GlaxoSmithKline by 8.5% in the second quarter. TD Asset Management Inc. now owns 34,546 shares of the pharmaceutical company’s stock valued at $1,490,000 after purchasing an additional 2,698 shares during the last quarter. Pioneer Investment Management Inc. grew its stake in GlaxoSmithKline by 15.2% in the second quarter. Pioneer Investment Management Inc. now owns 623,997 shares of the pharmaceutical company’s stock valued at $26,907,000 after purchasing an additional 82,472 shares during the last quarter. Finally, Seaward Management Limited Partnership grew its stake in GlaxoSmithKline by 4.8% in the second quarter. Seaward Management Limited Partnership now owns 5,785 shares of the pharmaceutical company’s stock valued at $249,000 after purchasing an additional 266 shares during the last quarter. Institutional investors own 9.83% of the company’s stock.

Shares of GlaxoSmithKline plc (NYSE:GSK) opened at $34.98 on Friday. 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 firm has a market capitalization of $85,240.76, a PE ratio of 12.29, a price-to-earnings-growth ratio of 1.91 and a beta of 0.98. GlaxoSmithKline plc has a twelve month low of $34.52 and a twelve month high of $44.53.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be issued a $0.5037 dividend. This represents a $2.01 annualized dividend and a yield of 5.76%. The ex-dividend date is Thursday, November 9th. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 163.12%.

Several equities analysts have issued reports on GSK shares. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, October 24th. BidaskClub upgraded GlaxoSmithKline from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Investec lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Zacks Investment Research upgraded GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Wednesday, October 18th. Finally, Morgan Stanley lowered GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 8th. Three research 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. GlaxoSmithKline has a consensus rating of “Hold” and an average price target of $39.71.

In other GlaxoSmithKline news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $14.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.00% of the stock is currently owned by company insiders.

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About GlaxoSmithKline

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.

Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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