Dynamic Advisors Solutions LLC decreased its stake in GlaxoSmithKline PLC (NYSE:GSK) by 1.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,920 shares of the pharmaceutical company’s stock after selling 1,372 shares during the period. GlaxoSmithKline PLC comprises approximately 1.6% of Dynamic Advisors Solutions LLC’s holdings, making the stock its 11th largest position. Dynamic Advisors Solutions LLC’s holdings in GlaxoSmithKline PLC were worth $4,050,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of GlaxoSmithKline PLC during the fourth quarter valued at approximately $19,206,000. Dodge & Cox purchased a new stake in GlaxoSmithKline PLC during the fourth quarter valued at $1,416,000. Perigon Wealth Management LLC boosted its stake in GlaxoSmithKline PLC by 3.3% in the fourth quarter. Perigon Wealth Management LLC now owns 44,720 shares of the pharmaceutical company’s stock valued at $1,904,000 after buying an additional 1,427 shares during the last quarter. M Holdings Securities Inc. boosted its stake in GlaxoSmithKline PLC by 13.3% in the fourth quarter. M Holdings Securities Inc. now owns 15,042 shares of the pharmaceutical company’s stock valued at $579,000 after buying an additional 1,764 shares during the last quarter. Finally, Searle & CO. purchased a new stake in GlaxoSmithKline PLC during the fourth quarter valued at $586,000. Institutional investors own 8.98% of the company’s stock.
Shares of GlaxoSmithKline PLC (NYSE GSK) opened at 40.93 on Friday. The firm has a 50 day moving average price of $42.84 and a 200-day moving average price of $41.78. 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 $99.99 billion, a price-to-earnings ratio of 45.78 and a beta of 1.04.
GlaxoSmithKline PLC (NYSE:GSK) last released its earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. The company had revenue of $9.36 billion for the quarter, compared to analysts’ expectations of $9.52 billion. Equities research analysts anticipate that GlaxoSmithKline PLC will post $2.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Friday, August 11th will be paid a $0.491 dividend. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.80%. GlaxoSmithKline PLC’s payout ratio is presently 194.00%.
Several research firms recently weighed in on GSK. Citigroup Inc. cut GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. ValuEngine cut GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Wednesday, May 31st. BidaskClub cut GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a report on Monday, July 24th. Finally, BNP Paribas raised GlaxoSmithKline PLC from an “underperform” rating to a “neutral” rating and dropped their price objective for the company from $45.58 to $37.20 in a report on Wednesday, April 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average 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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