Bailard Inc. Raises Stake in GlaxoSmithKline plc (NYSE:GSK)

Bailard Inc. raised its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,325 shares of the pharmaceutical company’s stock after purchasing an additional 407 shares during the quarter. Bailard Inc.’s holdings in GlaxoSmithKline were worth $355,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Prestige Wealth Management Group LLC purchased a new position in GlaxoSmithKline during the second quarter valued at approximately $26,000. Berman Capital Advisors LLC raised its position in shares of GlaxoSmithKline by 58.1% during the second quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after buying an additional 241 shares during the last quarter. Financial Gravity Wealth Inc. raised its position in shares of GlaxoSmithKline by 62.7% during the second quarter. Financial Gravity Wealth Inc. now owns 799 shares of the pharmaceutical company’s stock valued at $32,000 after buying an additional 308 shares during the last quarter. Manchester Financial Inc. bought a new stake in shares of GlaxoSmithKline during the second quarter valued at approximately $39,000. Finally, Ellis Investment Partners LLC raised its position in shares of GlaxoSmithKline by 144.5% during the third quarter. Ellis Investment Partners LLC now owns 1,022 shares of the pharmaceutical company’s stock valued at $43,000 after buying an additional 604 shares during the last quarter. 11.12% of the stock is currently owned by institutional investors and hedge funds.

In other GlaxoSmithKline news, major shareholder Plc Glaxosmithkline purchased 357,142 shares of GlaxoSmithKline stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $28.00 per share, for a total transaction of $9,999,976.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.00% of the company’s stock.

Several research firms have recently issued reports on GSK. ValuEngine upgraded shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a research report on Thursday, October 17th. New Street Research upgraded shares of GlaxoSmithKline from a “reduce” rating to a “hold” rating in a research report on Wednesday, October 16th. Jefferies Financial Group reiterated a “buy” rating on shares of GlaxoSmithKline in a research report on Thursday, August 29th. Finally, Societe Generale upgraded shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. GlaxoSmithKline has a consensus rating of “Hold” and an average target price of $41.79.

Shares of GSK opened at $42.52 on Wednesday. The company’s fifty day moving average is $41.90 and its 200 day moving average is $40.81. GlaxoSmithKline plc has a fifty-two week low of $36.41 and a fifty-two week high of $43.22. The stock has a market capitalization of $106.08 billion, a PE ratio of 13.46, a P/E/G ratio of 2.03 and a beta of 0.68. The company has a debt-to-equity ratio of 7.86, a quick ratio of 0.48 and a current ratio of 0.71.

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

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.

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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