Hoertkorn Richard Charles raised its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 46,675 shares of the pharmaceutical company’s stock after buying an additional 1,700 shares during the period. GlaxoSmithKline PLC comprises 1.3% of Hoertkorn Richard Charles’ portfolio, making the stock its 24th largest position. Hoertkorn Richard Charles’ holdings in GlaxoSmithKline PLC were worth $2,013,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. raised its stake in GlaxoSmithKline PLC by 45.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,410 shares of the pharmaceutical company’s stock worth $102,000 after buying an additional 753 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in GlaxoSmithKline PLC by 1,747.4% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,494 shares of the pharmaceutical company’s stock worth $105,000 after buying an additional 2,359 shares during the period. Proficio Capital Partners LLC raised its stake in GlaxoSmithKline PLC by 233.0% in the first quarter. Proficio Capital Partners LLC now owns 2,844 shares of the pharmaceutical company’s stock worth $122,000 after buying an additional 1,990 shares during the period. Heritage Trust Co acquired a new stake in GlaxoSmithKline PLC during the first quarter worth about $123,000. Finally, Westwood Holdings Group Inc. raised its stake in GlaxoSmithKline PLC by 15.7% in the first quarter. Westwood Holdings Group Inc. now owns 2,950 shares of the pharmaceutical company’s stock worth $124,000 after buying an additional 400 shares during the period. 8.96% of the stock is currently owned by hedge funds and other institutional investors.
GlaxoSmithKline PLC (GSK) opened at 42.77 on Friday. The company’s 50 day moving average price is $43.28 and its 200 day moving average price is $41.70. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $45.58. The company has a market cap of $104.49 billion, a P/E ratio of 48.60 and a beta of 1.04.
GlaxoSmithKline PLC (NYSE:GSK) last issued its quarterly earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.62. The business had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.09 billion. GlaxoSmithKline PLC had a return on equity of 113.31% and a net margin of 5.48%. Equities research analysts anticipate that GlaxoSmithKline PLC will post $2.86 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 13th. Investors of record on Friday, May 12th were given a dividend of $0.483 per share. The ex-dividend date was Wednesday, May 10th. This represents a $1.93 dividend on an annualized basis and a yield of 4.52%. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. GlaxoSmithKline PLC’s dividend payout ratio is currently 233.74%.
GSK has been the topic of a number of research analyst reports. BNP Paribas lowered their target price on GlaxoSmithKline PLC to $37.00 in a report on Thursday, April 6th. TheStreet raised GlaxoSmithKline PLC from a “c” rating to a “b” rating in a report on Friday, May 19th. Berenberg Bank raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a report on Friday, May 26th. Zacks Investment Research raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a report on Tuesday. Finally, ValuEngine lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $46.00.
About GlaxoSmithKline PLC
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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