Janney Capital Management LLC cut its stake in GlaxoSmithKline PLC (NYSE:GSK) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 498,684 shares of the pharmaceutical company’s stock after selling 10,007 shares during the period. Janney Capital Management LLC’s holdings in GlaxoSmithKline PLC were worth $21,503,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GSK. Norges Bank bought a new position in GlaxoSmithKline PLC during the fourth quarter valued at approximately $19,206,000. Beacon Financial Group increased its position in GlaxoSmithKline PLC by 2.9% in the first quarter. Beacon Financial Group now owns 160,017 shares of the pharmaceutical company’s stock valued at $6,797,000 after buying an additional 4,529 shares in the last quarter. Park National Corp OH increased its position in GlaxoSmithKline PLC by 1.9% in the first quarter. Park National Corp OH now owns 6,314 shares of the pharmaceutical company’s stock valued at $266,000 after buying an additional 118 shares in the last quarter. Confluence Investment Management LLC increased its position in GlaxoSmithKline PLC by 16.3% in the first quarter. Confluence Investment Management LLC now owns 1,790,184 shares of the pharmaceutical company’s stock valued at $75,474,000 after buying an additional 250,341 shares in the last quarter. Finally, New England Research & Management Inc. increased its position in GlaxoSmithKline PLC by 1.5% in the first quarter. New England Research & Management Inc. now owns 10,506 shares of the pharmaceutical company’s stock valued at $443,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 8.99% of the company’s stock.
Shares of GlaxoSmithKline PLC (GSK) opened at 38.75 on Friday. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $44.54. The firm’s 50-day moving average price is $41.15 and its 200 day moving average price is $41.84. The company has a market capitalization of $94.71 billion, a PE ratio of 37.48 and a beta of 1.03.
GlaxoSmithKline PLC (NYSE:GSK) last issued its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $9.36 billion for the quarter, compared to analyst estimates of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. On average, equities analysts forecast that GlaxoSmithKline PLC will post $2.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, August 11th will be issued a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a yield of 5.07%. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is presently 197.00%.
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Several research analysts have recently commented on GSK shares. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Tuesday, April 25th. Zacks Investment Research upgraded GlaxoSmithKline PLC from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. TheStreet upgraded GlaxoSmithKline PLC from a “c” rating to a “b” rating in a report on Friday, May 19th. Berenberg Bank upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Finally, ValuEngine downgraded GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $44.67.
About GlaxoSmithKline PLC
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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