NWQ Investment Management Company LLC trimmed its position in GlaxoSmithKline plc (NYSE:GSK) by 7.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,000,017 shares of the pharmaceutical company’s stock after selling 149,972 shares during the period. GlaxoSmithKline makes up about 1.6% of NWQ Investment Management Company LLC’s holdings, making the stock its 7th biggest position. NWQ Investment Management Company LLC owned approximately 0.08% of GlaxoSmithKline worth $79,381,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Optimum Investment Advisors grew its position in GlaxoSmithKline by 88.5% in the 3rd quarter. Optimum Investment Advisors now owns 2,749 shares of the pharmaceutical company’s stock valued at $110,000 after buying an additional 1,291 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in GlaxoSmithKline in the 2nd quarter valued at $134,000. Toronto Dominion Bank grew its position in GlaxoSmithKline by 46.0% in the 2nd quarter. Toronto Dominion Bank now owns 4,600 shares of the pharmaceutical company’s stock valued at $186,000 after buying an additional 1,450 shares during the last quarter. Whitener Capital Management Inc. purchased a new position in GlaxoSmithKline in the 3rd quarter valued at $185,000. Finally, Amussen Hunsaker Associates LLC purchased a new stake in shares of GlaxoSmithKline during the 2nd quarter worth $193,000. Hedge funds and other institutional investors own 10.97% of the company’s stock.
Several equities research analysts have commented on GSK shares. Zacks Investment Research upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Tuesday, September 25th. Goldman Sachs Group restated a “buy” rating on shares of GlaxoSmithKline in a research report on Wednesday, October 10th. Argus boosted their target price on shares of GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. Guggenheim started coverage on shares of GlaxoSmithKline in a research report on Monday, October 8th. They set a “neutral” rating on the stock. Finally, Cfra restated a “hold” rating on shares of GlaxoSmithKline in a research report on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $41.79.
GSK stock traded up $0.08 during trading on Friday, hitting $37.50. The stock had a trading volume of 77,761 shares, compared to its average volume of 3,072,760. GlaxoSmithKline plc has a 1-year low of $34.67 and a 1-year high of $42.36. The company has a market capitalization of $95.08 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 2.57 and a beta of 0.81. The company has a current ratio of 0.95, a quick ratio of 0.63 and a debt-to-equity ratio of 6.66.
GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.03). GlaxoSmithKline had a net margin of 5.78% and a return on equity of 164.99%. The firm had revenue of $9.41 billion during the quarter, compared to analyst estimates of $10.55 billion. As a group, research analysts predict that GlaxoSmithKline plc will post 2.98 earnings per share for the current year.
The company also recently announced 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. The ex-dividend date is Thursday, November 15th. This represents a $1.94 annualized dividend and a yield of 5.18%. GlaxoSmithKline’s payout ratio is presently 67.36%.
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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.
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