Financial Advisory Service Inc. Increases Stake in GlaxoSmithKline plc (NYSE:GSK)

Financial Advisory Service Inc. grew its position in shares of GlaxoSmithKline plc (NYSE:GSK) by 4.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,870 shares of the pharmaceutical company’s stock after buying an additional 706 shares during the quarter. Financial Advisory Service Inc.’s holdings in GlaxoSmithKline were worth $763,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Berman Capital Advisors LLC increased its holdings in shares of GlaxoSmithKline by 58.1% in the 2nd quarter. Berman Capital Advisors LLC now owns 656 shares of the pharmaceutical company’s stock valued at $26,000 after purchasing an additional 241 shares in the last quarter. Prestige Wealth Management Group LLC purchased a new position in shares of GlaxoSmithKline in the 2nd quarter valued at about $26,000. Prime Capital Investment Advisors LLC purchased a new position in shares of GlaxoSmithKline in the 3rd quarter valued at about $26,000. Financial Gravity Wealth Inc. increased its holdings in shares of GlaxoSmithKline by 62.7% in the 2nd quarter. Financial Gravity Wealth Inc. now owns 799 shares of the pharmaceutical company’s stock valued at $32,000 after purchasing an additional 308 shares in the last quarter. Finally, Manchester Financial Inc. purchased a new position in shares of GlaxoSmithKline in the 2nd quarter valued at about $39,000. Institutional investors own 11.20% of the company’s stock.

Shares of GlaxoSmithKline stock traded up $0.13 during mid-day trading on Wednesday, hitting $44.65. 47,654 shares of the stock were exchanged, compared to its average volume of 2,546,298. GlaxoSmithKline plc has a twelve month low of $36.41 and a twelve month high of $46.01. The stock has a market capitalization of $111.39 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 2.99 and a beta of 0.70. The company has a 50-day simple moving average of $43.12 and a 200 day simple moving average of $41.19. The company has a current ratio of 0.82, a quick ratio of 0.56 and a debt-to-equity ratio of 1.38.

GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings results on Wednesday, October 30th. The pharmaceutical company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. GlaxoSmithKline had a net margin of 13.76% and a return on equity of 92.73%. The company had revenue of $11.57 billion for the quarter, compared to analysts’ expectations of $11.34 billion. Equities research analysts forecast that GlaxoSmithKline plc will post 3.08 earnings per share for the current fiscal year.

In other news, major shareholder Plc Glaxosmithkline purchased 357,142 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $28.00 per share, with a total value of $9,999,976.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.00% of the stock is owned by company insiders.

GSK has been the subject of a number of research analyst reports. ValuEngine upgraded shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Societe Generale upgraded shares of GlaxoSmithKline from a “sell” rating to a “buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a research note on Thursday, October 17th. Goldman Sachs Group reissued a “buy” rating on shares of GlaxoSmithKline in a research note on Wednesday, October 30th. Finally, Argus increased their price objective on shares of GlaxoSmithKline from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. GlaxoSmithKline presently has an average rating of “Hold” and an average target price of $43.16.

GlaxoSmithKline Company Profile

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.

Further Reading: Equal Weight Rating

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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