Wedbush Securities Inc. Cuts Stock Position in GlaxoSmithKline plc (NYSE:GSK)

Wedbush Securities Inc. lowered its stake in GlaxoSmithKline plc (NYSE:GSK) by 37.5% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,651 shares of the pharmaceutical company’s stock after selling 14,192 shares during the quarter. Wedbush Securities Inc.’s holdings in GlaxoSmithKline were worth $844,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GSK. Kathmere Capital Management LLC purchased a new stake in GlaxoSmithKline during the 4th quarter valued at $29,000. Concord Wealth Partners purchased a new stake in GlaxoSmithKline during the 4th quarter valued at $29,000. ADE LLC purchased a new stake in GlaxoSmithKline during the 4th quarter valued at $30,000. Key Financial Inc purchased a new stake in GlaxoSmithKline during the 4th quarter valued at $31,000. Finally, Fieldpoint Private Securities LLC bought a new position in shares of GlaxoSmithKline during the 4th quarter valued at $34,000. Institutional investors own 11.83% of the company’s stock.

Several research firms have recently weighed in on GSK. Berenberg Bank reissued a “buy” rating on shares of GlaxoSmithKline in a report on Thursday, February 11th. Credit Suisse Group cut GlaxoSmithKline from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 20th. Morgan Stanley reaffirmed an “equal weight” rating on shares of GlaxoSmithKline in a report on Tuesday, April 20th. Zacks Investment Research raised GlaxoSmithKline from a “strong sell” rating to a “hold” rating and set a $40.00 target price on the stock in a report on Tuesday, April 20th. Finally, UBS Group reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, April 20th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. GlaxoSmithKline has an average rating of “Hold” and an average target price of $40.00.

Shares of GlaxoSmithKline stock opened at $37.67 on Tuesday. The firm has a market cap of $101.43 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 2.93 and a beta of 0.67. The business has a 50-day moving average price of $36.77 and a 200-day moving average price of $36.58. The company has a quick ratio of 0.61, a current ratio of 0.90 and a debt-to-equity ratio of 1.13. GlaxoSmithKline plc has a twelve month low of $33.26 and a twelve month high of $43.18.

GlaxoSmithKline (NYSE:GSK) last issued its quarterly earnings data on Tuesday, February 2nd. The pharmaceutical company reported $0.62 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.02). The firm had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $8.71 billion. GlaxoSmithKline had a net margin of 18.50% and a return on equity of 29.60%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, equities analysts expect that GlaxoSmithKline plc will post 3.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 8th. Stockholders of record on Friday, February 19th were given a dividend of $0.628 per share. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, February 18th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 6.67%. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 79.50%.

GlaxoSmithKline Profile

GlaxoSmithKline plc, together with its subsidiaries, engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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