Institute for Wealth Management LLC. Has $1.29 Million Stake in GlaxoSmithKline plc (GSK)

Institute for Wealth Management LLC. lessened its position in GlaxoSmithKline plc (NYSE:GSK) by 6.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,897 shares of the pharmaceutical company’s stock after selling 2,140 shares during the period. Institute for Wealth Management LLC.’s holdings in GlaxoSmithKline were worth $1,293,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of GSK. GWM Advisors LLC purchased a new stake in GlaxoSmithKline in the third quarter valued at approximately $284,000. Fluent Financial LLC grew its holdings in GlaxoSmithKline by 2.9% in the third quarter. Fluent Financial LLC now owns 50,554 shares of the pharmaceutical company’s stock valued at $2,031,000 after purchasing an additional 1,405 shares during the period. Cullen Frost Bankers Inc. grew its holdings in GlaxoSmithKline by 11.4% in the third quarter. Cullen Frost Bankers Inc. now owns 22,381 shares of the pharmaceutical company’s stock valued at $899,000 after purchasing an additional 2,284 shares during the period. Gilman Hill Asset Management LLC grew its holdings in GlaxoSmithKline by 6.1% in the third quarter. Gilman Hill Asset Management LLC now owns 34,192 shares of the pharmaceutical company’s stock valued at $1,373,000 after purchasing an additional 1,970 shares during the period. Finally, Sawtooth Solutions LLC grew its holdings in GlaxoSmithKline by 117.7% in the third quarter. Sawtooth Solutions LLC now owns 55,732 shares of the pharmaceutical company’s stock valued at $2,239,000 after purchasing an additional 30,128 shares during the period. 11.01% of the stock is owned by institutional investors and hedge funds.

GSK opened at $39.32 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 0.94 and a debt-to-equity ratio of 8.13. GlaxoSmithKline plc has a 52-week low of $34.52 and a 52-week high of $42.36. The company has a market cap of $97.51 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.92 and a beta of 0.87.



A number of research firms recently issued reports on GSK. JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday. Wolfe Research began coverage on shares of GlaxoSmithKline in a report on Tuesday, October 23rd. They issued a “market perform” rating for the company. ValuEngine upgraded shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Goldman Sachs Group restated a “buy” rating on shares of GlaxoSmithKline in a report on Wednesday, October 10th. Finally, Guggenheim began coverage on shares of GlaxoSmithKline in a report on Monday, October 8th. They issued a “neutral” rating for the company. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. GlaxoSmithKline presently has an average rating of “Hold” and a consensus price target of $41.57.

About GlaxoSmithKline

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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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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