Family Legacy Inc. reduced its holdings in GlaxoSmithKline plc (NYSE:GSK) by 32.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 8,000 shares of the pharmaceutical company’s stock after selling 3,775 shares during the quarter. Family Legacy Inc.’s holdings in GlaxoSmithKline were worth $325,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. TD Asset Management Inc. increased its holdings in shares of GlaxoSmithKline by 8.5% in the 2nd quarter. TD Asset Management Inc. now owns 34,546 shares of the pharmaceutical company’s stock worth $1,490,000 after acquiring an additional 2,698 shares during the period. First Trust Advisors LP increased its holdings in shares of GlaxoSmithKline by 3.2% in the 2nd quarter. First Trust Advisors LP now owns 452,533 shares of the pharmaceutical company’s stock worth $19,513,000 after acquiring an additional 14,240 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of GlaxoSmithKline by 11.2% in the 2nd quarter. Advisors Asset Management Inc. now owns 157,995 shares of the pharmaceutical company’s stock worth $6,813,000 after acquiring an additional 15,882 shares during the period. Trillium Asset Management LLC increased its holdings in shares of GlaxoSmithKline by 3.9% in the 2nd quarter. Trillium Asset Management LLC now owns 72,562 shares of the pharmaceutical company’s stock worth $3,129,000 after acquiring an additional 2,700 shares during the period. Finally, Conning Inc. increased its holdings in shares of GlaxoSmithKline by 354.1% in the 2nd quarter. Conning Inc. now owns 27,090 shares of the pharmaceutical company’s stock worth $1,168,000 after acquiring an additional 21,125 shares during the period. Institutional investors own 9.83% of the company’s stock.
A number of analysts recently weighed in on GSK shares. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, October 18th. Morgan Stanley cut shares of GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a report on Friday, September 8th. Argus reaffirmed a “buy” rating and issued a $50.00 price objective on shares of GlaxoSmithKline in a report on Thursday, August 31st. TheStreet raised shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a report on Wednesday, October 25th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, October 24th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. GlaxoSmithKline has an average rating of “Hold” and a consensus price target of $39.37.
GlaxoSmithKline plc (NYSE GSK) traded up $0.21 during trading on Wednesday, reaching $35.52. 4,654,900 shares of the company’s stock traded hands, compared to its average volume of 3,530,871. The firm has a market cap of $86,839.55, a PE ratio of 12.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.98. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. GlaxoSmithKline plc has a 52-week low of $34.52 and a 52-week high of $44.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 10th will be paid a $0.5037 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.01 annualized dividend and a dividend yield of 5.67%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s payout ratio is currently 163.12%.
In other GlaxoSmithKline news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the stock in a transaction dated Monday, November 6th. The shares were bought at an average price of $14.00 per share, with a total value of $5,999,994.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 10.00% of the company’s stock.
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GlaxoSmithKline Company Profile
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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