Private Advisor Group LLC boosted its position in GlaxoSmithKline plc (NYSE:GSK) by 7.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 77,976 shares of the pharmaceutical company’s stock after acquiring an additional 5,212 shares during the period. Private Advisor Group LLC’s holdings in GlaxoSmithKline were worth $3,166,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its stake in shares of GlaxoSmithKline by 16.1% during the 2nd quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock valued at $135,000 after buying an additional 457 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of GlaxoSmithKline by 1.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after acquiring an additional 64 shares in the last quarter. FTB Advisors Inc. lifted its holdings in shares of GlaxoSmithKline by 16.9% during the 2nd quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock valued at $146,000 after acquiring an additional 539 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of GlaxoSmithKline by 3.5% during the 2nd quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock valued at $162,000 after acquiring an additional 148 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of GlaxoSmithKline by 93.4% during the 2nd quarter. Parallel Advisors LLC now owns 4,048 shares of the pharmaceutical company’s stock valued at $164,000 after acquiring an additional 1,955 shares in the last quarter. 9.83% of the stock is owned by hedge funds and other institutional investors.
In other GlaxoSmithKline news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the stock in a transaction that occurred on Monday, November 6th. The stock was acquired at an average price of $14.00 per share, with a total value of $5,999,994.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 10.00% of the stock is owned by corporate insiders.
Shares of GlaxoSmithKline plc (GSK) traded down $0.32 during trading hours on Tuesday, hitting $35.00. 4,235,600 shares of the company were exchanged, compared to its average volume of 3,487,375. The company has a current ratio of 0.64, a quick ratio of 0.44 and a debt-to-equity ratio of 2.96. GlaxoSmithKline plc has a twelve month low of $34.72 and a twelve month high of $44.53. The company has a market cap of $86,863.92, a P/E ratio of 12.52, a PEG ratio of 1.96 and a beta of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be given a dividend of $0.5037 per share. This represents a $2.01 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date is Thursday, November 9th. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s dividend payout ratio is currently 163.12%.
A number of brokerages have commented on GSK. Zacks Investment Research upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, October 18th. Morgan Stanley lowered shares of GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a report on Friday, September 8th. Argus reiterated a “buy” rating and issued a $50.00 price objective on shares of GlaxoSmithKline in a report on Thursday, August 31st. TheStreet upgraded shares of GlaxoSmithKline from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. Finally, J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, October 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $39.71.
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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