Rockbridge Investment Management LCC purchased a new stake in GlaxoSmithKline plc (NYSE:GSK) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,000 shares of the pharmaceutical company’s stock, valued at approximately $41,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Marshall Wace North America L.P. purchased a new position in shares of GlaxoSmithKline in the 1st quarter worth about $62,000. New York State Common Retirement Fund boosted its stake in GlaxoSmithKline by 248.6% in the first quarter. New York State Common Retirement Fund now owns 361,389 shares of the pharmaceutical company’s stock worth $13,693,000 after buying an additional 257,727 shares in the last quarter. WASHINGTON TRUST Co purchased a new stake in shares of GlaxoSmithKline during the first quarter valued at approximately $53,000. Bartlett & Co. LLC purchased a new stake in shares of GlaxoSmithKline during the first quarter valued at approximately $191,000. Finally, Oppenheimer & Co. Inc. boosted its stake in shares of GlaxoSmithKline by 12.5% during the first quarter. Oppenheimer & Co. Inc. now owns 82,832 shares of the pharmaceutical company’s stock valued at $3,138,000 after purchasing an additional 9,209 shares during the period. 12.12% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. UBS Group reiterated a “buy” rating on shares of GlaxoSmithKline in a report on Wednesday, August 12th. AlphaValue upgraded GlaxoSmithKline to a “buy” rating in a report on Tuesday, September 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, September 8th. Morgan Stanley reaffirmed an “underweight” rating on shares of GlaxoSmithKline in a research report on Tuesday, September 1st. Finally, Zacks Investment Research cut GlaxoSmithKline from a “buy” rating to a “hold” rating and set a $41.00 target price on the stock. in a research report on Tuesday. Four analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. GlaxoSmithKline presently has an average rating of “Hold” and an average target price of $41.00.
GSK traded up $0.27 during trading hours on Wednesday, reaching $39.54. 94,232 shares of the company’s stock traded hands, compared to its average volume of 3,785,086. The firm has a 50-day moving average price of $40.15 and a 200 day moving average price of $40.28. GlaxoSmithKline plc has a 52-week low of $31.43 and a 52-week high of $48.25. The company has a quick ratio of 0.69, a current ratio of 0.96 and a debt-to-equity ratio of 1.28. The firm has a market capitalization of $98.51 billion, a PE ratio of 11.71, a PEG ratio of 2.85 and a beta of 0.65.
GlaxoSmithKline (NYSE:GSK) last issued its earnings results on Wednesday, July 29th. The pharmaceutical company reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.01). The firm had revenue of $9.46 billion during the quarter, compared to analysts’ expectations of $9.60 billion. GlaxoSmithKline had a return on equity of 31.21% and a net margin of 19.03%. Equities analysts predict that GlaxoSmithKline plc will post 3.03 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Friday, August 14th will be paid a dividend of $0.4914 per share. This represents a $1.97 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, August 13th. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.47. GlaxoSmithKline’s payout ratio is presently 61.20%.
In related news, Director Plc Glaxosmithkline bought 361,111 shares of the stock in a transaction dated Tuesday, July 21st. The shares were purchased at an average price of $18.00 per share, for a total transaction of $6,499,998.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.00% of the stock is currently owned by insiders.
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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