GlaxoSmithKline PLC (NYSE:GSK)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America Corp. in a report released on Tuesday. They currently have a $50.00 price objective on the pharmaceutical company’s stock. Bank of America Corp.’s target price would suggest a potential upside of 15.47% from the company’s current price.

A number of other equities analysts also recently issued reports on GSK. Citigroup Inc. raised GlaxoSmithKline PLC from a “neutral” rating to a “buy” rating in a research report on Friday, July 1st. Shore Capital reissued a “hold” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, July 27th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Monday, July 25th. Zacks Investment Research downgraded GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 24th. Finally, Beaufort Securities reissued a “buy” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. GlaxoSmithKline PLC has an average rating of “Hold” and a consensus price target of $47.53.

Analyst Recommendations for GlaxoSmithKline PLC (NYSE:GSK)

GlaxoSmithKline PLC (NYSE:GSK) opened at 43.30 on Tuesday. The stock has a market cap of $105.24 billion, a price-to-earnings ratio of 2706.25 and a beta of 0.85. The firm has a 50-day moving average price of $43.97 and a 200-day moving average price of $42.57. GlaxoSmithKline PLC has a 12 month low of $37.24 and a 12 month high of $45.58.

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The firm also recently declared a dividend, which will be paid on Thursday, October 13th. Shareholders of record on Friday, August 12th will be paid a $0.494 dividend. The ex-dividend date is Wednesday, August 10th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 6,600.00%.

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of GlaxoSmithKline PLC during the fourth quarter valued at about $20,124,000. Hoertkorn Richard Charles boosted its position in shares of GlaxoSmithKline PLC by 13.3% in the first quarter. Hoertkorn Richard Charles now owns 8,950 shares of the pharmaceutical company’s stock valued at $363,000 after buying an additional 1,050 shares during the last quarter. Mission Wealth Management LLC boosted its position in shares of GlaxoSmithKline PLC by 10.9% in the first quarter. Mission Wealth Management LLC now owns 6,408 shares of the pharmaceutical company’s stock valued at $260,000 after buying an additional 628 shares during the last quarter. BLB&B Advisors LLC boosted its position in shares of GlaxoSmithKline PLC by 5.1% in the first quarter. BLB&B Advisors LLC now owns 58,582 shares of the pharmaceutical company’s stock valued at $2,376,000 after buying an additional 2,855 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of GlaxoSmithKline PLC by 1.1% in the first quarter. Fisher Asset Management LLC now owns 11,657,855 shares of the pharmaceutical company’s stock valued at $499,889,000 after buying an additional 126,182 shares during the last quarter. Institutional investors own 9.03% of the company’s stock.

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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