Commerce Bank lowered its stake in GlaxoSmithKline plc (NYSE:GSK) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,667 shares of the pharmaceutical company’s stock after selling 4,367 shares during the quarter. Commerce Bank’s holdings in GlaxoSmithKline were worth $1,232,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of GSK. Optimum Investment Advisors raised its stake in shares of GlaxoSmithKline by 88.5% in the third quarter. Optimum Investment Advisors now owns 2,749 shares of the pharmaceutical company’s stock worth $110,000 after buying an additional 1,291 shares during the period. Kiley Juergens Wealth Management LLC bought a new position in shares of GlaxoSmithKline in the second quarter worth about $113,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of GlaxoSmithKline in the second quarter worth about $134,000. Toronto Dominion Bank raised its stake in shares of GlaxoSmithKline by 46.0% in the second quarter. Toronto Dominion Bank now owns 4,600 shares of the pharmaceutical company’s stock worth $186,000 after buying an additional 1,450 shares during the period. Finally, Amussen Hunsaker Associates LLC bought a new position in shares of GlaxoSmithKline in the second quarter worth about $193,000. 11.01% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on the company. Liberum Capital downgraded GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Thursday, August 30th. Deutsche Bank reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research note on Wednesday, August 1st. Bank of America set a $40.00 price objective on GlaxoSmithKline and gave the stock a “hold” rating in a research note on Wednesday, July 25th. TheStreet raised GlaxoSmithKline from a “c” rating to a “b” rating in a research note on Monday, August 6th. Finally, Argus raised their price objective on GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. Eleven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.57.
Shares of GSK opened at $41.30 on Friday. The company has a market cap of $98.70 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. GlaxoSmithKline plc has a 12-month low of $34.52 and a 12-month high of $42.36. The company has a debt-to-equity ratio of 6.66, a quick ratio of 0.63 and a current ratio of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.486 per share. This represents a $1.94 annualized dividend and a yield of 4.71%. The ex-dividend date of this dividend is Thursday, November 15th. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. GlaxoSmithKline’s dividend payout ratio (DPR) is 68.06%.
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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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