Fisher Asset Management LLC increased its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,226,217 shares of the pharmaceutical company’s stock after purchasing an additional 348,044 shares during the quarter. Fisher Asset Management LLC owned 0.65% of GlaxoSmithKline worth $610,755,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Milestone Advisory Partners acquired a new position in GlaxoSmithKline during the 2nd quarter worth $25,000. Pflug Koory LLC lifted its holdings in GlaxoSmithKline by 64.4% during the 3rd quarter. Pflug Koory LLC now owns 781 shares of the pharmaceutical company’s stock worth $29,000 after buying an additional 306 shares during the last quarter. Creative Financial Designs Inc. ADV purchased a new stake in GlaxoSmithKline during the 2nd quarter worth about $31,000. MV Capital Management Inc. purchased a new stake in GlaxoSmithKline during the 2nd quarter worth about $33,000. Finally, Laurel Wealth Advisors LLC lifted its holdings in GlaxoSmithKline by 109.9% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 955 shares of the pharmaceutical company’s stock worth $39,000 after buying an additional 500 shares during the last quarter. 12.12% of the stock is owned by hedge funds and other institutional investors.
Shares of GlaxoSmithKline stock traded down $0.11 on Friday, hitting $37.03. The stock had a trading volume of 4,275,631 shares, compared to its average volume of 4,030,347. GlaxoSmithKline plc has a 52-week low of $31.43 and a 52-week high of $48.25. The company has a current ratio of 0.90, a quick ratio of 0.61 and a debt-to-equity ratio of 1.13. The stock has a market cap of $92.89 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 2.86 and a beta of 0.63. The company’s 50 day moving average price is $36.51 and its 200 day moving average price is $39.54.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.4959 per share. The ex-dividend date of this dividend is Thursday, November 12th. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. This represents a $1.98 annualized dividend and a yield of 5.36%. GlaxoSmithKline’s dividend payout ratio is currently 61.51%.
A number of analysts have issued reports on GSK shares. Zacks Investment Research downgraded GlaxoSmithKline from a “buy” rating to a “hold” rating and set a $41.00 price target for the company. in a report on Tuesday, September 15th. AlphaValue raised GlaxoSmithKline to a “buy” rating in a report on Tuesday, September 1st. UBS Group reaffirmed a “buy” rating on shares of GlaxoSmithKline in a report on Monday, October 12th. Berenberg Bank started coverage on GlaxoSmithKline in a report on Tuesday, September 29th. They set a “buy” rating for the company. Finally, Morgan Stanley raised GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a report on Friday, November 13th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.
GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.
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