Renaissance Technologies LLC Increases Position in GlaxoSmithKline plc (GSK)

Renaissance Technologies LLC boosted its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 8.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,135,200 shares of the pharmaceutical company’s stock after buying an additional 805,800 shares during the quarter. GlaxoSmithKline accounts for approximately 0.4% of Renaissance Technologies LLC’s investment portfolio, making the stock its 28th largest position. Renaissance Technologies LLC owned approximately 0.41% of GlaxoSmithKline worth $407,131,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cpwm LLC purchased a new stake in shares of GlaxoSmithKline during the third quarter valued at $1,368,000. Allianz Asset Management GmbH purchased a new stake in shares of GlaxoSmithKline during the third quarter valued at $3,093,000. William Blair Investment Management LLC purchased a new stake in shares of GlaxoSmithKline during the third quarter valued at $2,630,000. Diamond Hill Capital Management Inc. lifted its holdings in shares of GlaxoSmithKline by 133.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 429,279 shares of the pharmaceutical company’s stock valued at $17,244,000 after purchasing an additional 245,549 shares during the last quarter. Finally, Eaton Vance Management lifted its holdings in shares of GlaxoSmithKline by 49.3% during the third quarter. Eaton Vance Management now owns 1,916,771 shares of the pharmaceutical company’s stock valued at $76,996,000 after purchasing an additional 633,093 shares during the last quarter. 10.97% of the stock is owned by institutional investors and hedge funds.

GSK has been the subject of several analyst reports. Argus upped their target price on GlaxoSmithKline from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, August 20th. Liberum Capital downgraded GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, September 25th. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, September 25th. Finally, Guggenheim initiated coverage on GlaxoSmithKline in a report on Monday, October 8th. They set a “neutral” rating for the company. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $43.00.

Shares of GlaxoSmithKline stock opened at $38.34 on Wednesday. The stock has a market capitalization of $103.83 billion, a P/E ratio of 13.31, a price-to-earnings-growth ratio of 2.59 and a beta of 0.81. The company has a debt-to-equity ratio of 6.66, a current ratio of 0.95 and a quick ratio of 0.63. GlaxoSmithKline plc has a 1 year low of $34.52 and a 1 year high of $42.36.

GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings data on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.86 by ($0.03). The business had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $10.55 billion. GlaxoSmithKline had a return on equity of 164.99% and a net margin of 5.78%. On average, research analysts forecast that GlaxoSmithKline plc will post 3.01 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Friday, November 16th will be paid a $0.486 dividend. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. This represents a $1.94 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend is Thursday, November 15th. GlaxoSmithKline’s dividend payout ratio is currently 67.36%.

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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.

Read More: Asset Allocation, Balancing Your Investments

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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