GlaxoSmithKline plc (NYSE:GSK) Position Cut by Guardian Investment Management

Guardian Investment Management trimmed its stake in GlaxoSmithKline plc (NYSE:GSK) by 6.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 32,700 shares of the pharmaceutical company’s stock after selling 2,350 shares during the quarter. Guardian Investment Management’s holdings in GlaxoSmithKline were worth $1,309,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of GSK. Berman Capital Advisors LLC lifted 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 during the last quarter. Financial Gravity Wealth Inc. increased 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 valued at $32,000 after purchasing an additional 308 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of GlaxoSmithKline during the first quarter valued at $37,000. Manchester Financial Inc. acquired a new position in shares of GlaxoSmithKline during the second quarter valued at $39,000. Finally, Westside Investment Management Inc. acquired a new position in shares of GlaxoSmithKline during the second quarter valued at $50,000. Institutional investors own 11.12% of the company’s stock.

In other GlaxoSmithKline news, Director Plc Glaxosmithkline acquired 333,333 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $4,999,995.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.00% of the company’s stock.



A number of brokerages have recently commented on GSK. Societe Generale raised GlaxoSmithKline from a “sell” rating to a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group reissued a “buy” rating on shares of GlaxoSmithKline in a report on Thursday, August 29th. Morgan Stanley reissued an “underweight” rating on shares of GlaxoSmithKline in a report on Monday, June 17th. ValuEngine lowered GlaxoSmithKline from a “hold” rating to a “sell” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $41.79.

GSK traded down $0.56 during trading on Wednesday, reaching $41.51. The company had a trading volume of 1,111,225 shares, compared to its average volume of 1,976,847. The firm’s 50-day simple moving average is $41.09 and its 200 day simple moving average is $40.63. The company has a market cap of $103.54 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 2.00 and a beta of 0.70. GlaxoSmithKline plc has a 12-month low of $36.41 and a 12-month high of $42.49. The company has a debt-to-equity ratio of 7.86, a quick ratio of 0.48 and a current ratio of 0.71.

GlaxoSmithKline (NYSE:GSK) last issued its quarterly earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.14. The firm had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $9.55 billion. GlaxoSmithKline had a return on equity of 175.45% and a net margin of 13.84%. On average, sell-side analysts expect that GlaxoSmithKline plc will post 2.96 EPS for the current year.

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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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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