Cetera Investment Advisers Reduces Position in GlaxoSmithKline plc (GSK)

Cetera Investment Advisers lowered its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 23.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,811 shares of the pharmaceutical company’s stock after selling 6,164 shares during the quarter. Cetera Investment Advisers’ holdings in GlaxoSmithKline were worth $798,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Proficio Capital Partners LLC boosted its stake in GlaxoSmithKline by 16.1% during the second quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock worth $135,000 after buying an additional 457 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in GlaxoSmithKline by 1.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 64 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in GlaxoSmithKline by 1,982.8% during the third quarter. Wealthcare Advisory Partners LLC now owns 3,520 shares of the pharmaceutical company’s stock worth $143,000 after buying an additional 3,351 shares in the last quarter. FTB Advisors Inc. boosted its stake in GlaxoSmithKline by 16.9% during the second quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock worth $146,000 after buying an additional 539 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in GlaxoSmithKline by 3.5% during the second quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock worth $162,000 after buying an additional 148 shares in the last quarter. 9.83% of the stock is currently owned by institutional investors and hedge funds.

GSK has been the topic of a number of recent research reports. UBS upgraded shares of GlaxoSmithKline from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $35.04 to $35.85 in a research note on Monday, November 27th. Zacks Investment Research downgraded shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Morgan Stanley downgraded shares of GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 8th. BidaskClub upgraded shares of GlaxoSmithKline from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Finally, Argus restated a “buy” rating and issued a $50.00 target price on shares of GlaxoSmithKline in a research note on Thursday, August 31st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $39.37.

Shares of GlaxoSmithKline plc (GSK) traded up $0.21 during midday trading on Wednesday, reaching $35.52. 4,654,900 shares of the company traded hands, compared to its average volume of 3,530,871. The firm has a market cap of $86,839.55, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.96 and a beta of 0.98. 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 1-year low of $34.52 and a 1-year high of $44.53.

The business also recently declared 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 is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.49. The ex-dividend date is Thursday, November 9th. This represents a $2.01 annualized dividend and a yield of 5.67%. GlaxoSmithKline’s dividend payout ratio is 163.12%.

In related news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of GlaxoSmithKline stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 10.00% of the stock is owned by corporate insiders.

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

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