BlackRock Inc. reduced its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 16.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,181,541 shares of the pharmaceutical company’s stock after selling 240,536 shares during the quarter. BlackRock Inc.’s holdings in GlaxoSmithKline were worth $45,147,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Dubuque Bank & Trust Co. grew its holdings in GlaxoSmithKline by 195.3% in the fourth quarter. Dubuque Bank & Trust Co. now owns 685 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 453 shares during the period. Lavaca Capital LLC acquired a new position in GlaxoSmithKline during the fourth quarter worth approximately $37,000. Contravisory Investment Management Inc. acquired a new position in GlaxoSmithKline during the fourth quarter worth approximately $49,000. River Wealth Advisors LLC raised its stake in GlaxoSmithKline by 17.8% during the fourth quarter. River Wealth Advisors LLC now owns 1,990 shares of the pharmaceutical company’s stock worth $76,000 after purchasing an additional 301 shares during the period. Finally, Clean Yield Group purchased a new position in GlaxoSmithKline during the fourth quarter worth approximately $90,000. 11.08% of the stock is currently owned by institutional investors.
GSK has been the topic of a number of research analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 price target on shares of GlaxoSmithKline in a report on Tuesday, December 11th. Zacks Investment Research upgraded GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Monday, February 4th. ValuEngine raised GlaxoSmithKline from a “sell” rating to a “hold” rating in a research report on Thursday, December 13th. SunTrust Banks assumed coverage on GlaxoSmithKline in a research report on Thursday, December 13th. They issued a “hold” rating and a $38.00 target price on the stock. Finally, Shore Capital cut GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $41.99.
GlaxoSmithKline stock opened at $41.60 on Friday. GlaxoSmithKline plc has a 52-week low of $36.41 and a 52-week high of $42.36. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 5.52. The firm has a market capitalization of $103.42 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 2.08 and a beta of 0.76.
GlaxoSmithKline (NYSE:GSK) last posted its earnings results on Wednesday, February 6th. The pharmaceutical company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. GlaxoSmithKline had a net margin of 11.45% and a return on equity of 160.39%. The business had revenue of $10.55 billion for the quarter, compared to analyst estimates of $9.85 billion. Research analysts anticipate that GlaxoSmithKline plc will post 2.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Friday, February 22nd will be issued a $0.597 dividend. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $2.39 annualized dividend and a yield of 5.74%. The ex-dividend date is Thursday, February 21st. GlaxoSmithKline’s dividend payout ratio is currently 74.68%.
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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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