GlaxoSmithKline PLC (GSK) Given Buy Rating at Bank of America Corp.
GlaxoSmithKline PLC (NYSE:GSK)‘s stock had its “buy” rating restated by research analysts at Bank of America Corp. in a research note issued on Tuesday. They currently have a $50.00 target price on the pharmaceutical company’s stock. Bank of America Corp.’s price target suggests a potential upside of 16.12% from the stock’s previous close.
Several other research firms have also commented on GSK. Zacks Investment Research upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, June 21st. Beaufort Securities restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Friday, June 3rd. Citigroup Inc. restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Thursday, June 23rd. Jefferies Group upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a report on Thursday, July 14th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $47.53.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 0.55% during trading on Tuesday, reaching $43.06. 2,581,722 shares of the company’s stock traded hands. GlaxoSmithKline PLC has a 1-year low of $37.24 and a 1-year high of $45.58. The company has a 50 day moving average price of $43.97 and a 200 day moving average price of $42.57. The stock has a market capitalization of $104.66 billion, a PE ratio of 2691.25 and a beta of 0.85.
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The firm also recently disclosed a dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, August 12th will be issued a $0.494 dividend. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio is presently 6,600.00%.
A number of institutional investors have recently added to or reduced their stakes in GSK. FMR LLC increased its position in GlaxoSmithKline PLC by 29.8% in the second quarter. FMR LLC now owns 20,701,378 shares of the pharmaceutical company’s stock worth $897,198,000 after buying an additional 4,757,238 shares in the last quarter. Thornburg Investment Management Inc. increased its position in GlaxoSmithKline PLC by 188.7% in the second quarter. Thornburg Investment Management Inc. now owns 1,025,410 shares of the pharmaceutical company’s stock worth $44,441,000 after buying an additional 670,284 shares in the last quarter. Ameriprise Financial Inc. increased its position in GlaxoSmithKline PLC by 24.7% in the second quarter. Ameriprise Financial Inc. now owns 3,038,134 shares of the pharmaceutical company’s stock worth $132,800,000 after buying an additional 602,693 shares in the last quarter. Norges Bank acquired a new position in GlaxoSmithKline PLC during the fourth quarter worth approximately $20,124,000. Finally, Chartwell Investment Partners LLC increased its position in GlaxoSmithKline PLC by 519.1% in the second quarter. Chartwell Investment Partners LLC now owns 561,735 shares of the pharmaceutical company’s stock worth $24,346,000 after buying an additional 471,005 shares in the last quarter. 9.03% of the stock is owned by hedge funds and other institutional investors.
About GlaxoSmithKline PLC
GlaxoSmithKline plc (GSK) is a healthcare company. The Company is engaged in the creation and discovery, development, manufacture and marketing of pharmaceutical products, including vaccines, over-the-counter (OTC) medicines and health-related consumer products. The Company’s segments include Pharmaceuticals, Pharmaceuticals R&D, Vaccines and Consumer Healthcare.
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