Geode Capital Management LLC reduced its stake in GlaxoSmithKline (NYSE:GSK) by 33.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 145,521 shares of the pharmaceutical company’s stock after selling 73,605 shares during the quarter. Geode Capital Management LLC’s holdings in GlaxoSmithKline were worth $5,161,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Field & Main Bank acquired a new position in shares of GlaxoSmithKline in the 4th quarter worth approximately $132,000. First Dallas Securities Inc. acquired a new position in shares of GlaxoSmithKline in the 4th quarter worth approximately $142,000. California Capital Advisors Inc. acquired a new position in shares of GlaxoSmithKline in the 4th quarter worth approximately $210,000. Capital Investment Advisory Services LLC acquired a new position in shares of GlaxoSmithKline in the 4th quarter worth approximately $219,000. Finally, Doyle Wealth Management acquired a new position in shares of GlaxoSmithKline in the 4th quarter worth approximately $221,000. Hedge funds and other institutional investors own 10.96% of the company’s stock.
Several brokerages have recently commented on GSK. Zacks Investment Research lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating and set a $46.00 price objective on the stock. in a report on Wednesday, April 11th. Deutsche Bank restated a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, April 9th. BNP Paribas upgraded shares of GlaxoSmithKline from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 4th. Finally, Morgan Stanley upgraded shares of GlaxoSmithKline from an “underweight” rating to an “equal weight” rating in a report on Thursday, March 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. GlaxoSmithKline currently has an average rating of “Hold” and a consensus target price of $40.46.
GlaxoSmithKline stock opened at $40.51 on Wednesday. The company has a market cap of $100,615.44, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 2.25 and a beta of 0.84. GlaxoSmithKline has a 52-week low of $34.52 and a 52-week high of $44.53. The company has a current ratio of 0.60, a quick ratio of 0.39 and a debt-to-equity ratio of 4.09.
GlaxoSmithKline (NYSE:GSK) last released its earnings results on Wednesday, February 7th. The pharmaceutical company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.03. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $9.89 billion. GlaxoSmithKline had a net margin of 4.97% and a return on equity of 130.63%. equities analysts expect that GlaxoSmithKline will post 2.94 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 12th. Shareholders of record on Friday, February 23rd were issued a dividend of $0.633 per share. The ex-dividend date was Thursday, February 22nd. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.50. This represents a $2.53 dividend on an annualized basis and a yield of 6.25%. GlaxoSmithKline’s dividend payout ratio is 89.93%.
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GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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