William Blair Investment Management LLC purchased a new stake in GlaxoSmithKline plc (NYSE:GSK) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 65,465 shares of the pharmaceutical company’s stock, valued at approximately $2,630,000.
Other large investors have also modified their holdings of the company. TD Asset Management Inc. boosted its stake in shares of GlaxoSmithKline by 1.7% in the second quarter. TD Asset Management Inc. now owns 146,562 shares of the pharmaceutical company’s stock valued at $5,908,000 after buying an additional 2,457 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in GlaxoSmithKline by 23.5% during the second quarter. CIBC Private Wealth Group LLC now owns 40,367 shares of the pharmaceutical company’s stock worth $1,627,000 after purchasing an additional 7,691 shares during the last quarter. Dean Capital Investments Management LLC acquired a new position in GlaxoSmithKline during the second quarter worth $821,000. Bank of Hawaii raised its holdings in GlaxoSmithKline by 15.7% during the second quarter. Bank of Hawaii now owns 44,200 shares of the pharmaceutical company’s stock worth $1,782,000 after purchasing an additional 5,992 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its holdings in GlaxoSmithKline by 20.4% during the second quarter. Checchi Capital Advisers LLC now owns 25,998 shares of the pharmaceutical company’s stock worth $1,048,000 after purchasing an additional 4,402 shares during the last quarter. 10.97% of the stock is currently owned by institutional investors.
Several brokerages recently issued reports on GSK. Liberum Capital cut GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Argus lifted their price objective on GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, August 20th. ValuEngine raised GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Wednesday, November 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, September 25th. Thirteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $41.79.
NYSE GSK opened at $37.27 on Friday. GlaxoSmithKline plc has a fifty-two week low of $34.67 and a fifty-two week high of $42.36. The firm has a market capitalization of $95.08 billion, a PE ratio of 12.94, a P/E/G ratio of 2.57 and a beta of 0.81. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 6.66.
GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings results on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.03). GlaxoSmithKline had a return on equity of 164.99% and a net margin of 5.78%. The company 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 fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, November 16th will be issued a $0.486 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.22%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, November 15th. GlaxoSmithKline’s payout ratio is 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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