Profund Advisors LLC Reduces Holdings in GlaxoSmithKline PLC (GSK)

Profund Advisors LLC cut its holdings in GlaxoSmithKline PLC (NYSE:GSK) by 21.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,060 shares of the pharmaceutical company’s stock after selling 10,030 shares during the quarter. Profund Advisors LLC’s holdings in GlaxoSmithKline PLC were worth $1,598,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Hotchkis & Wiley Capital Management LLC raised its position in GlaxoSmithKline PLC by 4.3% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 7,847,327 shares of the pharmaceutical company’s stock worth $338,377,000 after acquiring an additional 322,700 shares in the last quarter. Stevens Capital Management LP raised its position in GlaxoSmithKline PLC by 17.1% in the second quarter. Stevens Capital Management LP now owns 40,674 shares of the pharmaceutical company’s stock worth $1,754,000 after acquiring an additional 5,933 shares in the last quarter. Bruderman Asset Management LLC raised its position in GlaxoSmithKline PLC by 30.8% in the second quarter. Bruderman Asset Management LLC now owns 310,248 shares of the pharmaceutical company’s stock worth $13,378,000 after acquiring an additional 73,014 shares in the last quarter. Bahl & Gaynor Inc. raised its position in GlaxoSmithKline PLC by 0.9% in the second quarter. Bahl & Gaynor Inc. now owns 17,481 shares of the pharmaceutical company’s stock worth $673,000 after acquiring an additional 150 shares in the last quarter. Finally, Comerica Securities Inc. raised its position in GlaxoSmithKline PLC by 22.0% in the second quarter. Comerica Securities Inc. now owns 10,735 shares of the pharmaceutical company’s stock worth $467,000 after acquiring an additional 1,933 shares in the last quarter. Hedge funds and other institutional investors own 9.28% of the company’s stock.

Several brokerages have commented on GSK. Citigroup Inc. reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 27th. J P Morgan Chase & Co reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, May 31st. TheStreet cut shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Argus reiterated a “buy” rating and issued a $50.00 price target on shares of GlaxoSmithKline PLC in a research report on Thursday, August 31st. Finally, Zacks Investment Research upgraded shares of GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Tuesday, July 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.00.

Shares of GlaxoSmithKline PLC (NYSE:GSK) opened at 39.85 on Tuesday. The firm’s 50-day moving average price is $39.78 and its 200 day moving average price is $41.76. The firm has a market cap of $97.39 billion, a P/E ratio of 39.38 and a beta of 1.03. GlaxoSmithKline PLC has a 12-month low of $37.20 and a 12-month high of $44.54.

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 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 firm had revenue of $9.36 billion for the quarter, compared to analyst estimates of $9.52 billion. On average, equities analysts expect that GlaxoSmithKline PLC will post $2.87 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Friday, August 11th will be paid a $0.491 dividend. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.96 annualized dividend and a yield of 4.90%. GlaxoSmithKline PLC’s dividend payout ratio is presently 197.00%.

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GlaxoSmithKline PLC Profile

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.

Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

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