HBK Sorce Advisory LLC raised its stake in GlaxoSmithKline plc (NYSE:GSK) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,645 shares of the pharmaceutical company’s stock after purchasing an additional 2,952 shares during the quarter. HBK Sorce Advisory LLC’s holdings in GlaxoSmithKline were worth $461,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. FMR LLC increased its position in shares of GlaxoSmithKline by 1.7% during the third quarter. FMR LLC now owns 19,081,274 shares of the pharmaceutical company’s stock valued at $766,495,000 after acquiring an additional 327,721 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of GlaxoSmithKline by 1.4% during the third quarter. Fisher Asset Management LLC now owns 14,011,328 shares of the pharmaceutical company’s stock valued at $562,835,000 after acquiring an additional 187,205 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of GlaxoSmithKline by 8.6% during the third quarter. Renaissance Technologies LLC now owns 10,135,200 shares of the pharmaceutical company’s stock valued at $407,131,000 after acquiring an additional 805,800 shares during the last quarter. Federated Investors Inc. PA increased its position in shares of GlaxoSmithKline by 1.7% during the second quarter. Federated Investors Inc. PA now owns 4,366,175 shares of the pharmaceutical company’s stock valued at $176,000,000 after acquiring an additional 73,981 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of GlaxoSmithKline by 19.6% during the second quarter. Morgan Stanley now owns 3,615,525 shares of the pharmaceutical company’s stock valued at $145,742,000 after acquiring an additional 592,022 shares during the last quarter. 10.97% of the stock is owned by hedge funds and other institutional investors.
NYSE:GSK opened at $37.61 on Friday. The company has a debt-to-equity ratio of 6.66, a current ratio of 0.95 and a quick ratio of 0.63. GlaxoSmithKline plc has a 1 year low of $34.83 and a 1 year high of $42.36. The firm has a market capitalization of $93.27 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.54 and a beta of 0.81.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Friday, November 16th will be given a $0.486 dividend. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. This represents a $1.94 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date is Thursday, November 15th. GlaxoSmithKline’s dividend payout ratio (DPR) is currently 67.36%.
GSK has been the subject of a number of research analyst reports. SunTrust Banks initiated coverage on GlaxoSmithKline in a research report on Thursday. They set a “hold” rating and a $38.00 price target for the company. Jefferies Financial Group reaffirmed a “buy” rating and set a $45.00 price target on shares of GlaxoSmithKline in a research report on Tuesday, December 11th. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research report on Wednesday, November 28th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research report on Tuesday, September 25th. Finally, Wolfe Research started coverage on GlaxoSmithKline in a research report on Tuesday, October 23rd. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $41.71.
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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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