Eagle Asset Management Inc. increased its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 15.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,870 shares of the pharmaceutical company’s stock after acquiring an additional 1,708 shares during the quarter. Eagle Asset Management Inc.’s holdings in GlaxoSmithKline were worth $526,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. 1st Global Advisors Inc. raised its stake in shares of GlaxoSmithKline by 0.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock worth $227,000 after acquiring an additional 19 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of GlaxoSmithKline by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock worth $234,000 after acquiring an additional 55 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in GlaxoSmithKline by 1.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after purchasing an additional 64 shares in the last quarter. Strategic Global Advisors LLC increased its stake in GlaxoSmithKline by 0.6% during the 2nd quarter. Strategic Global Advisors LLC now owns 12,179 shares of the pharmaceutical company’s stock valued at $525,000 after purchasing an additional 75 shares in the last quarter. Finally, PagnatoKarp Partners LLC increased its stake in GlaxoSmithKline by 1.4% during the 2nd quarter. PagnatoKarp Partners LLC now owns 5,812 shares of the pharmaceutical company’s stock valued at $253,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 9.83% of the company’s stock.
In other GlaxoSmithKline news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the business’s stock in a transaction dated Monday, November 6th. The shares were purchased at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 10.00% of the stock is owned by corporate insiders.
A number of research analysts have issued reports on the stock. Argus cut their price target on shares of GlaxoSmithKline to $40.00 and set a “buy” rating on the stock in a research note on Thursday, November 30th. J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline in a research note on Thursday, September 21st. UBS upgraded shares of GlaxoSmithKline from a “neutral” rating to a “buy” rating and upped their price target for the company from $35.04 to $35.85 in a research note on Monday, November 27th. Zacks Investment Research lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Investec lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $39.71.
GlaxoSmithKline plc (NYSE GSK) traded down $0.20 during trading hours on Thursday, hitting $34.66. 5,771,900 shares of the stock were exchanged, compared to its average volume of 3,507,768. The firm has a market capitalization of $85,732.63, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.93 and a beta of 0.98. GlaxoSmithKline plc has a 1 year low of $34.52 and a 1 year high of $44.53. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.64 and a quick ratio of 0.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Friday, November 10th will be paid a $0.5037 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 5.81%. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s dividend payout ratio is presently 163.12%.
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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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