Auxier Asset Management trimmed its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 24.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 62,772 shares of the pharmaceutical company’s stock after selling 20,800 shares during the quarter. Auxier Asset Management’s holdings in GlaxoSmithKline were worth $2,530,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. We Are One Seven LLC boosted its stake in GlaxoSmithKline by 185.1% during the 1st quarter. We Are One Seven LLC now owns 2,677 shares of the pharmaceutical company’s stock valued at $105,000 after acquiring an additional 1,738 shares during the last quarter. Kiley Juergens Wealth Management LLC bought a new position in GlaxoSmithKline during the 2nd quarter valued at $113,000. Adviser Investments LLC bought a new position in GlaxoSmithKline during the 1st quarter valued at $117,000. Toronto Dominion Bank boosted its stake in GlaxoSmithKline by 133.3% during the 1st quarter. Toronto Dominion Bank now owns 3,150 shares of the pharmaceutical company’s stock valued at $123,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in GlaxoSmithKline during the 2nd quarter valued at $134,000. Hedge funds and other institutional investors own 11.03% of the company’s stock.
A number of research firms have commented on GSK. Zacks Investment Research downgraded shares of GlaxoSmithKline from a “hold” rating to a “sell” rating in a research note on Thursday, June 14th. Argus raised their price target on shares of GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a research report on Friday, July 20th. Shore Capital upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a research report on Friday, July 27th. Finally, Bank of America set a $40.00 price target on shares of GlaxoSmithKline and gave the stock a “hold” rating in a research report on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $41.57.
GlaxoSmithKline stock opened at $39.33 on Friday. The stock has a market cap of $96.69 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.93 and a beta of 0.86. The company has a debt-to-equity ratio of 8.13, a quick ratio of 0.61 and a current ratio of 0.94. GlaxoSmithKline plc has a 52 week low of $34.52 and a 52 week high of $42.36.
GlaxoSmithKline (NYSE:GSK) last released its earnings results on Wednesday, July 25th. The pharmaceutical company reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.06. The firm had revenue of $9.95 billion for the quarter, compared to analysts’ expectations of $9.47 billion. GlaxoSmithKline had a net margin of 5.51% and a return on equity of 159.74%. research analysts forecast that GlaxoSmithKline plc will post 2.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 11th. Shareholders of record on Friday, August 10th will be paid a dividend of $0.496 per share. The ex-dividend date is Thursday, August 9th. This represents a $1.98 annualized dividend and a yield of 5.04%. GlaxoSmithKline’s payout ratio is 68.75%.
In related news, major shareholder Plc Glaxosmithkline bought 269,230 shares of the stock in a transaction on Monday, July 2nd. The shares were purchased at an average price of $13.00 per share, with a total value of $3,499,990.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have acquired 498,048 shares of company stock worth $6,136,988. 10.00% of the stock is owned by corporate 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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