PVG Asset Management Corp reduced its stake in GlaxoSmithKline plc (NYSE:GSK) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,865 shares of the pharmaceutical company’s stock after selling 3,611 shares during the period. GlaxoSmithKline makes up about 1.1% of PVG Asset Management Corp’s holdings, making the stock its 29th largest holding. PVG Asset Management Corp’s holdings in GlaxoSmithKline were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Berman Capital Advisors LLC raised its stake in GlaxoSmithKline by 58.1% in the second quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares in the last quarter. Financial Gravity Wealth Inc. grew its holdings in shares of GlaxoSmithKline by 62.7% during the second quarter. Financial Gravity Wealth Inc. now owns 799 shares of the pharmaceutical company’s stock worth $32,000 after purchasing an additional 308 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of GlaxoSmithKline during the first quarter worth about $37,000. Manchester Financial Inc. purchased a new position in shares of GlaxoSmithKline during the second quarter worth about $39,000. Finally, Westside Investment Management Inc. purchased a new position in shares of GlaxoSmithKline during the second quarter worth about $50,000. Institutional investors and hedge funds own 11.12% of the company’s stock.
Shares of NYSE GSK traded up $0.40 during midday trading on Friday, reaching $41.72. 2,167,708 shares of the company were exchanged, compared to its average volume of 2,044,835. The company has a current ratio of 0.71, a quick ratio of 0.48 and a debt-to-equity ratio of 7.86. GlaxoSmithKline plc has a 1 year low of $36.41 and a 1 year high of $42.49. The stock has a fifty day simple moving average of $41.03 and a 200 day simple moving average of $40.60. The stock has a market cap of $102.51 billion, a P/E ratio of 13.20, a PEG ratio of 1.96 and a beta of 0.70.
In related news, Director Plc Glaxosmithkline purchased 177,777 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $45.00 per share, with a total value of $7,999,965.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.
Several equities analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, August 13th. Cowen reaffirmed a “hold” rating and set a $45.00 price objective on shares of GlaxoSmithKline in a report on Monday, June 10th. Societe Generale raised GlaxoSmithKline from a “sell” rating to a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group reaffirmed a “buy” rating on shares of GlaxoSmithKline in a report on Thursday, August 29th. Finally, ValuEngine lowered GlaxoSmithKline from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the stock. GlaxoSmithKline presently has a consensus rating of “Hold” and a consensus target price of $41.79.
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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