HBK Sorce Advisory LLC grew its stake in GlaxoSmithKline plc (NYSE:GSK) by 30.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,645 shares of the pharmaceutical company’s stock after buying an additional 2,952 shares during the period. HBK Sorce Advisory LLC’s holdings in GlaxoSmithKline were worth $461,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of GlaxoSmithKline by 23.6% in the second quarter. BlackRock Inc. now owns 1,577,096 shares of the pharmaceutical company’s stock valued at $63,573,000 after buying an additional 301,154 shares during the period. Jacobs & Co. CA increased its stake in shares of GlaxoSmithKline by 14.6% in the third quarter. Jacobs & Co. CA now owns 89,202 shares of the pharmaceutical company’s stock valued at $3,583,000 after buying an additional 11,370 shares during the period. Centaurus Financial Inc. increased its stake in shares of GlaxoSmithKline by 250.2% in the second quarter. Centaurus Financial Inc. now owns 14,096 shares of the pharmaceutical company’s stock valued at $568,000 after buying an additional 10,071 shares during the period. Old Port Advisors acquired a new stake in shares of GlaxoSmithKline in the second quarter valued at about $2,710,000. Finally, Calton & Associates Inc. increased its stake in shares of GlaxoSmithKline by 16.3% in the third quarter. Calton & Associates Inc. now owns 10,932 shares of the pharmaceutical company’s stock valued at $439,000 after buying an additional 1,535 shares during the period. 10.97% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on GSK. Argus increased their price target on GlaxoSmithKline from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, August 20th. Barclays cut GlaxoSmithKline from an “overweight” rating to an “equal weight” rating and set a $36.95 price target for the company. in a research note on Tuesday, December 4th. Zacks Investment Research lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. Cfra restated a “hold” rating on shares of GlaxoSmithKline in a research report on Tuesday, December 4th. Finally, JPMorgan Chase & Co. restated a “neutral” rating on shares of GlaxoSmithKline in a research report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have given a buy rating to the company. GlaxoSmithKline presently has a consensus rating of “Hold” and an average target price of $41.71.
GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, October 31st. The pharmaceutical company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). GlaxoSmithKline had a net margin of 5.78% and a return on equity of 164.99%. The business had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $10.55 billion. Equities research analysts expect that GlaxoSmithKline plc will post 2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Shareholders of record on Friday, November 16th will be issued a $0.486 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.94 annualized dividend and a yield of 5.17%. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.46. GlaxoSmithKline’s dividend payout ratio is presently 67.36%.
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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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