Insider Buying: GlaxoSmithKline plc (NYSE:GSK) Major Shareholder Buys $9,999,976.00 in Stock

GlaxoSmithKline plc (NYSE:GSK) major shareholder Plc Glaxosmithkline purchased 357,142 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was acquired at an average cost of $28.00 per share, with a total value of $9,999,976.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Plc Glaxosmithkline also recently made the following trade(s):

  • On Tuesday, September 10th, Plc Glaxosmithkline purchased 177,777 shares of GlaxoSmithKline stock. The stock was acquired at an average cost of $45.00 per share, with a total value of $7,999,965.00.

NYSE GSK opened at $44.02 on Friday. The firm has a market cap of $106.05 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 2.03 and a beta of 0.68. The company has a 50 day moving average of $41.97 and a 200-day moving average of $40.83. 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 $44.10.

GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings data on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.14. The company had revenue of $10.04 billion during the quarter, compared to analyst estimates of $9.55 billion. GlaxoSmithKline had a net margin of 13.84% and a return on equity of 175.45%. On average, analysts forecast that GlaxoSmithKline plc will post 2.97 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Prestige Wealth Management Group LLC bought a new stake in shares of GlaxoSmithKline during the second quarter valued at approximately $26,000. Berman Capital Advisors LLC grew its stake in shares of GlaxoSmithKline by 58.1% during the second quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares during the last quarter. Financial Gravity Wealth Inc. grew its stake 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 last quarter. Manchester Financial Inc. bought a new stake in shares of GlaxoSmithKline during the second quarter valued at approximately $39,000. Finally, Ellis Investment Partners LLC grew its stake in shares of GlaxoSmithKline by 144.5% during the third quarter. Ellis Investment Partners LLC now owns 1,022 shares of the pharmaceutical company’s stock valued at $43,000 after purchasing an additional 604 shares during the last quarter. 11.12% of the stock is owned by institutional investors.

Several research analysts recently issued reports on GSK shares. Jefferies Financial Group reissued a “buy” rating on shares of GlaxoSmithKline in a research report on Thursday, August 29th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research report on Thursday, October 17th. New Street Research raised shares of GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research report on Wednesday, October 16th. Societe Generale raised shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a research report on Tuesday, September 3rd. Finally, Cantor Fitzgerald raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average 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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