Stonebridge Capital Advisors LLC raised its holdings in shares of GlaxoSmithKline PLC (NYSE:GSK) by 18.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,889 shares of the pharmaceutical company’s stock after acquiring an additional 3,290 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in GlaxoSmithKline PLC were worth $901,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of GSK. Russell Investments Group Ltd. bought a new position in shares of GlaxoSmithKline PLC during the 1st quarter worth approximately $578,000. Envestnet Asset Management Inc. grew its stake in shares of GlaxoSmithKline PLC by 4.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 464,719 shares of the pharmaceutical company’s stock worth $19,591,000 after acquiring an additional 20,928 shares in the last quarter. Bruderman Asset Management LLC grew its stake in shares of GlaxoSmithKline PLC by 67.6% during the 1st quarter. Bruderman Asset Management LLC now owns 237,234 shares of the pharmaceutical company’s stock worth $10,002,000 after acquiring an additional 95,680 shares in the last quarter. Buckingham Capital Management Inc. grew its stake in shares of GlaxoSmithKline PLC by 5.2% during the 1st quarter. Buckingham Capital Management Inc. now owns 19,814 shares of the pharmaceutical company’s stock worth $835,000 after acquiring an additional 987 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of GlaxoSmithKline PLC by 13.8% during the 1st quarter. Private Advisor Group LLC now owns 71,709 shares of the pharmaceutical company’s stock worth $3,008,000 after acquiring an additional 8,703 shares in the last quarter. 9.28% of the stock is owned by institutional investors.
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GlaxoSmithKline PLC (GSK) traded up 0.10% during midday trading on Tuesday, hitting $40.64. The stock had a trading volume of 1,706,730 shares. GlaxoSmithKline PLC has a 1-year low of $37.20 and a 1-year high of $44.54. The stock’s 50-day moving average is $40.13 and its 200-day moving average is $41.62. The stock has a market capitalization of $99.32 billion, a PE ratio of 39.38 and a beta of 1.03.
GlaxoSmithKline PLC (NYSE:GSK) last announced its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $9.52 billion. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. On average, equities research analysts anticipate that GlaxoSmithKline PLC will post $2.87 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, August 11th will be paid a $0.491 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Wednesday, August 9th. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. GlaxoSmithKline PLC’s dividend payout ratio is 197.00%.
GSK has been the subject of several research reports. Zacks Investment Research cut shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Monday, July 24th. BidaskClub cut shares of GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. Morgan Stanley cut shares of GlaxoSmithKline PLC from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 8th. Finally, Argus reaffirmed a “buy” rating and set a $50.00 price target on shares of GlaxoSmithKline PLC in a research note on Thursday, August 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $44.67.
About GlaxoSmithKline PLC
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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