Summit Securities Group LLC reduced its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 55.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,700 shares of the pharmaceutical company’s stock after selling 8,400 shares during the quarter. Summit Securities Group LLC’s holdings in GlaxoSmithKline were worth $256,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its stake in GlaxoSmithKline by 23.6% during the second quarter. BlackRock Inc. now owns 1,577,096 shares of the pharmaceutical company’s stock worth $63,573,000 after acquiring an additional 301,154 shares during the last quarter. Verition Fund Management LLC bought a new stake in GlaxoSmithKline during the second quarter worth approximately $211,000. Advisors Asset Management Inc. increased its stake in GlaxoSmithKline by 3.8% during the second quarter. Advisors Asset Management Inc. now owns 183,470 shares of the pharmaceutical company’s stock worth $7,396,000 after acquiring an additional 6,679 shares during the last quarter. Optimum Investment Advisors increased its stake in GlaxoSmithKline by 88.5% during the third quarter. Optimum Investment Advisors now owns 2,749 shares of the pharmaceutical company’s stock worth $110,000 after acquiring an additional 1,291 shares during the last quarter. Finally, Chemung Canal Trust Co. increased its stake in GlaxoSmithKline by 38.6% during the third quarter. Chemung Canal Trust Co. now owns 108,248 shares of the pharmaceutical company’s stock worth $4,348,000 after acquiring an additional 30,151 shares during the last quarter. Institutional investors and hedge funds own 10.95% of the company’s stock.
Several equities research analysts have weighed in on GSK shares. Jefferies Financial Group reissued a “buy” rating and set a $45.00 price objective on shares of GlaxoSmithKline in a research note on Tuesday, December 11th. Zacks Investment Research raised GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Tuesday, September 25th. Goldman Sachs Group reissued a “buy” rating on shares of GlaxoSmithKline in a research note on Wednesday, October 10th. Morgan Stanley started coverage on GlaxoSmithKline in a research note on Friday, December 14th. They set an “underweight” rating on the stock. Finally, Wolfe Research started coverage on GlaxoSmithKline in a research note on Tuesday, October 23rd. They set a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $41.71.
GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, October 31st. The pharmaceutical company reported $0.83 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.03). GlaxoSmithKline had a net margin of 5.78% and a return on equity of 164.99%. The business had revenue of $9.41 billion for the quarter, compared to analysts’ expectations of $10.55 billion. Equities research analysts expect that GlaxoSmithKline plc will post 2.96 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 10th. Shareholders of record on Friday, November 16th were given a dividend of $0.486 per share. This represents a $1.94 annualized dividend and a dividend yield of 4.98%. The ex-dividend date was Thursday, November 15th. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.46. GlaxoSmithKline’s payout ratio is 66.67%.
GlaxoSmithKline Company Profile
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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