Confluence Investment Management LLC decreased its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 20.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,625,293 shares of the pharmaceutical company’s stock after selling 410,395 shares during the period. Confluence Investment Management LLC owned 0.07% of GlaxoSmithKline worth $57,649,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC increased its stake in GlaxoSmithKline by 5.9% during the 2nd quarter. FMR LLC now owns 25,024,276 shares of the pharmaceutical company’s stock worth $1,079,047,000 after purchasing an additional 1,389,238 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of GlaxoSmithKline by 2.3% during the 3rd quarter. Fisher Asset Management LLC now owns 12,828,251 shares of the pharmaceutical company’s stock worth $520,827,000 after acquiring an additional 293,866 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of GlaxoSmithKline by 112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after acquiring an additional 4,935,900 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of GlaxoSmithKline by 7.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 8,416,927 shares of the pharmaceutical company’s stock valued at $341,727,000 after buying an additional 569,600 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of GlaxoSmithKline by 2.9% in the second quarter. Northern Trust Corp now owns 3,078,478 shares of the pharmaceutical company’s stock valued at $132,743,000 after buying an additional 85,830 shares in the last quarter. Institutional investors and hedge funds own 9.70% of the company’s stock.
Several brokerages have issued reports on GSK. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a report on Wednesday, October 18th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, October 18th. Bank of America downgraded GlaxoSmithKline from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. UBS Group restated a “buy” rating on shares of GlaxoSmithKline in a research report on Monday, January 15th. Finally, Barclays upgraded GlaxoSmithKline from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $38.57.
Shares of GlaxoSmithKline plc (GSK) traded up $0.01 on Wednesday, reaching $38.12. The company’s stock had a trading volume of 313,329 shares, compared to its average volume of 5,038,803. GlaxoSmithKline plc has a 12-month low of $34.52 and a 12-month high of $44.53. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. The firm has a market capitalization of $95,366.14, a price-to-earnings ratio of 31.24, a PEG ratio of 2.39 and a beta of 0.98.
In related news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate 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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