Fred Alger Management Inc. reduced its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,485 shares of the pharmaceutical company’s stock after selling 4,227 shares during the period. Fred Alger Management Inc.’s holdings in GlaxoSmithKline were worth $1,223,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Private Advisor Group LLC grew its holdings in GlaxoSmithKline by 7.2% during the 3rd quarter. Private Advisor Group LLC now owns 77,976 shares of the pharmaceutical company’s stock worth $3,166,000 after acquiring an additional 5,212 shares in the last quarter. San Francisco Sentry Investment Group CA grew its holdings in GlaxoSmithKline by 110.3% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 8,749 shares of the pharmaceutical company’s stock worth $356,000 after acquiring an additional 4,589 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in GlaxoSmithKline by 14.6% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 15,297 shares of the pharmaceutical company’s stock worth $543,000 after acquiring an additional 1,950 shares in the last quarter. SG Americas Securities LLC acquired a new position in GlaxoSmithKline during the 3rd quarter worth $1,209,000. Finally, Ballew Advisors Inc acquired a new position in GlaxoSmithKline during the 4th quarter worth $426,000. 10.98% of the stock is owned by institutional investors.
GlaxoSmithKline plc (NYSE GSK) opened at $37.13 on Wednesday. The company has a debt-to-equity ratio of 4.09, a current ratio of 0.60 and a quick ratio of 0.39. GlaxoSmithKline plc has a 52-week low of $34.52 and a 52-week high of $44.53. The stock has a market cap of $93,350.70, a PE ratio of 13.03, a PEG ratio of 2.28 and a beta of 0.95.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Friday, February 23rd will be given a $0.633 dividend. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.50. This represents a $2.53 dividend on an annualized basis and a dividend yield of 6.82%. The ex-dividend date of this dividend is Thursday, February 22nd. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 320.26%.
Several brokerages have weighed in on GSK. UBS Group raised shares of GlaxoSmithKline from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $35.04 to $35.85 in a report on Monday, November 27th. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Tuesday, March 6th. TheStreet lowered shares of GlaxoSmithKline from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, January 29th. Finally, Cowen set a $38.00 price objective on shares of GlaxoSmithKline and gave the stock a “hold” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. GlaxoSmithKline currently has a consensus rating of “Hold” and an average target price of $38.77.
GlaxoSmithKline Company Profile
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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