Bruderman Asset Management LLC increased its holdings in shares of GlaxoSmithKline PLC (NYSE:GSK) by 30.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 310,248 shares of the pharmaceutical company’s stock after buying an additional 73,014 shares during the quarter. GlaxoSmithKline PLC accounts for approximately 3.6% of Bruderman Asset Management LLC’s holdings, making the stock its 7th biggest position. Bruderman Asset Management LLC’s holdings in GlaxoSmithKline PLC were worth $13,378,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of GSK. FMR LLC grew its stake in GlaxoSmithKline PLC by 11.7% in the first quarter. FMR LLC now owns 23,635,038 shares of the pharmaceutical company’s stock valued at $996,452,000 after purchasing an additional 2,482,009 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in GlaxoSmithKline PLC by 87,023.5% in the first quarter. Thrivent Financial For Lutherans now owns 1,373,066 shares of the pharmaceutical company’s stock valued at $57,884,000 after purchasing an additional 1,371,490 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of GlaxoSmithKline PLC by 42.7% during the 1st quarter. Renaissance Technologies LLC now owns 4,402,100 shares of the pharmaceutical company’s stock worth $185,593,000 after acquiring an additional 1,316,600 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of GlaxoSmithKline PLC by 15.8% during the 1st quarter. Bank of America Corp DE now owns 6,849,632 shares of the pharmaceutical company’s stock worth $288,780,000 after acquiring an additional 934,928 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its stake in shares of GlaxoSmithKline PLC by 22.7% during the 2nd quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock worth $194,521,000 after acquiring an additional 833,501 shares in the last quarter. Institutional investors and hedge funds own 9.28% of the company’s stock.
Shares of GlaxoSmithKline PLC (NYSE GSK) traded up 0.62% on Thursday, reaching $40.43. The company’s stock had a trading volume of 3,045,001 shares. The firm has a 50 day moving average of $39.76 and a 200 day moving average of $41.75. GlaxoSmithKline PLC has a 52-week low of $37.20 and a 52-week high of $44.54. The company has a market cap of $98.81 billion, a PE ratio of 39.95 and a beta of 1.03.
GlaxoSmithKline PLC (NYSE:GSK) last posted its quarterly earnings data 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. The firm had revenue of $9.36 billion for the quarter, compared to analysts’ expectations of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. Analysts predict that GlaxoSmithKline PLC will post $2.87 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be given a dividend of $0.491 per share. The ex-dividend date is Wednesday, August 9th. This represents a $1.96 annualized dividend and a dividend yield of 4.89%. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is 197.00%.
Several research firms have recently issued reports on GSK. Citigroup Inc. reiterated a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Wednesday, May 31st. TheStreet cut GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research report on Wednesday, July 26th. Argus reaffirmed a “buy” rating and issued a $50.00 price target on shares of GlaxoSmithKline PLC in a report on Thursday, August 31st. Finally, Zacks Investment Research raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Tuesday, July 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. GlaxoSmithKline PLC presently has an average rating of “Hold” and an average target price of $44.67.
GlaxoSmithKline PLC Company 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.
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