Outlook Wealth Advisors LLC Cuts Stake in GlaxoSmithKline plc (NYSE:GSK)

Outlook Wealth Advisors LLC reduced its stake in GlaxoSmithKline plc (NYSE:GSK) by 9.1% during the third quarter, HoldingsChannel reports. The fund owned 14,012 shares of the pharmaceutical company’s stock after selling 1,395 shares during the period. Outlook Wealth Advisors LLC’s holdings in GlaxoSmithKline were worth $598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC grew its stake in shares of GlaxoSmithKline by 58.1% in the second quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock worth $26,000 after acquiring an additional 241 shares during the last quarter. Sigma Planning Corp boosted its position in shares of GlaxoSmithKline by 0.8% during the second quarter. Sigma Planning Corp now owns 32,090 shares of the pharmaceutical company’s stock valued at $1,284,000 after buying an additional 250 shares during the last quarter. Trillium Asset Management LLC boosted its position in shares of GlaxoSmithKline by 2.2% during the second quarter. Trillium Asset Management LLC now owns 11,519 shares of the pharmaceutical company’s stock valued at $461,000 after buying an additional 252 shares during the last quarter. Gofen & Glossberg LLC IL boosted its position in shares of GlaxoSmithKline by 0.9% during the third quarter. Gofen & Glossberg LLC IL now owns 27,908 shares of the pharmaceutical company’s stock valued at $1,191,000 after buying an additional 260 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of GlaxoSmithKline by 1.8% during the second quarter. CIBC Private Wealth Group LLC now owns 14,824 shares of the pharmaceutical company’s stock valued at $593,000 after buying an additional 261 shares during the last quarter. 11.13% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on GSK shares. New Street Research raised GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research report on Wednesday. ValuEngine cut GlaxoSmithKline from a “hold” rating to a “sell” rating in a research report on Tuesday, September 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of GlaxoSmithKline in a research report on Thursday, August 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Thursday. Finally, Societe Generale raised GlaxoSmithKline from a “sell” rating to a “buy” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $41.79.

NYSE:GSK traded down $0.03 on Friday, hitting $42.44. The stock had a trading volume of 46,043 shares, compared to its average volume of 2,298,635. The stock has a market cap of $105.43 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 2.02 and a beta of 0.68. The company has a quick ratio of 0.48, a current ratio of 0.71 and a debt-to-equity ratio of 7.86. The business’s 50-day simple moving average is $41.80 and its two-hundred day simple moving average is $40.79. GlaxoSmithKline plc has a 52-week low of $36.41 and a 52-week high of $43.22.

GlaxoSmithKline (NYSE:GSK) last announced its earnings results on Wednesday, July 24th. The pharmaceutical company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.14. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $9.55 billion. GlaxoSmithKline had a return on equity of 175.45% and a net margin of 13.84%. As a group, equities research analysts anticipate that GlaxoSmithKline plc will post 2.97 EPS for the current year.

In other news, Director Plc Glaxosmithkline bought 177,777 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of $45.00 per share, with a total value of $7,999,965.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.00% of the company’s stock.

About GlaxoSmithKline

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.

Read More: Cost of Capital Explained

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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