Cullinan Associates Inc. increased its holdings in GlaxoSmithKline plc (NYSE:GSK) by 27.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,500 shares of the pharmaceutical company’s stock after purchasing an additional 6,300 shares during the quarter. Cullinan Associates Inc.’s holdings in GlaxoSmithKline were worth $1,127,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of GlaxoSmithKline by 1.7% during the third quarter. FMR LLC now owns 19,081,274 shares of the pharmaceutical company’s stock valued at $766,495,000 after acquiring an additional 327,721 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of GlaxoSmithKline by 1.4% during the third quarter. Fisher Asset Management LLC now owns 14,011,328 shares of the pharmaceutical company’s stock valued at $562,835,000 after acquiring an additional 187,205 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of GlaxoSmithKline by 8.6% during the third quarter. Renaissance Technologies LLC now owns 10,135,200 shares of the pharmaceutical company’s stock valued at $407,131,000 after acquiring an additional 805,800 shares during the last quarter. Morgan Stanley raised its holdings in shares of GlaxoSmithKline by 16.5% during the third quarter. Morgan Stanley now owns 4,212,892 shares of the pharmaceutical company’s stock valued at $169,232,000 after acquiring an additional 597,367 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of GlaxoSmithKline by 4.0% during the third quarter. Macquarie Group Ltd. now owns 2,526,790 shares of the pharmaceutical company’s stock valued at $101,501,000 after acquiring an additional 97,947 shares during the last quarter. 10.96% of the stock is owned by institutional investors.
GSK stock opened at $39.38 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.95 and a debt-to-equity ratio of 6.66. The company has a market capitalization of $97.24 billion, a PE ratio of 13.67, a P/E/G ratio of 1.95 and a beta of 0.83. GlaxoSmithKline plc has a 1 year low of $34.89 and a 1 year high of $42.36.
GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings results on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The company had revenue of $9.41 billion during the quarter, compared to analysts’ expectations of $10.55 billion. GlaxoSmithKline had a net margin of 5.78% and a return on equity of 164.99%. Equities research analysts predict that GlaxoSmithKline plc will post 2.96 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Stockholders of record on Friday, November 16th were given a $0.486 dividend. The ex-dividend date was Thursday, November 15th. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.94%. GlaxoSmithKline’s dividend payout ratio is 66.67%.
A number of equities analysts have commented on GSK shares. SunTrust Banks started coverage on GlaxoSmithKline in a report on Thursday, December 13th. They set a “hold” rating and a $38.00 target price for the company. Jefferies Financial Group reissued a “buy” rating and set a $45.00 target price on shares of GlaxoSmithKline in a report on Tuesday, December 11th. 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 Wednesday, November 28th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, September 25th. Finally, Wolfe Research started coverage on GlaxoSmithKline in a report on Tuesday, October 23rd. They set a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. GlaxoSmithKline presently has an average rating of “Hold” and a consensus target price of $41.71.
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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.
Further Reading: Leveraged Buyout (LBO)
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