Essex Savings Bank purchased a new stake in shares of GlaxoSmithKline plc (NYSE:GSK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,618 shares of the pharmaceutical company’s stock, valued at approximately $229,000.
A number of other hedge funds have also recently added to or reduced their stakes in GSK. Ellis Investment Partners LLC increased its stake in GlaxoSmithKline by 61.4% in the 1st quarter. Ellis Investment Partners LLC now owns 689 shares of the pharmaceutical company’s stock valued at $25,000 after buying an additional 262 shares during the last quarter. CFM Wealth Partners LLC acquired a new position in shares of GlaxoSmithKline during the 1st quarter worth about $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of GlaxoSmithKline during the 2nd quarter worth about $31,000. Investment Research & Advisory Group Inc. increased its stake in shares of GlaxoSmithKline by 227.3% during the 1st quarter. Investment Research & Advisory Group Inc. now owns 864 shares of the pharmaceutical company’s stock worth $33,000 after purchasing an additional 600 shares during the last quarter. Finally, Manchester Financial Inc. grew its stake in GlaxoSmithKline by 382.4% in the 2nd quarter. Manchester Financial Inc. now owns 820 shares of the pharmaceutical company’s stock valued at $33,000 after buying an additional 650 shares during the last quarter. Institutional investors own 12.41% of the company’s stock.
A number of brokerages recently commented on GSK. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline in a research note on Tuesday, May 5th. ValuEngine lowered shares of GlaxoSmithKline from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Barclays reiterated an “underweight” rating on shares of GlaxoSmithKline in a research note on Thursday, April 30th. Finally, UBS Group reiterated a “buy” rating on shares of GlaxoSmithKline in a research note on Thursday, May 14th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold”.
In other GlaxoSmithKline news, Director Plc Glaxosmithkline acquired 361,111 shares of the company’s stock in a transaction on Tuesday, July 21st. The shares were purchased at an average cost of $18.00 per share, with a total value of $6,499,998.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.00% of the stock is owned by corporate insiders.
Shares of GSK traded up $0.07 during trading hours on Friday, hitting $40.32. 5,256,383 shares of the stock were exchanged, compared to its average volume of 3,093,294. GlaxoSmithKline plc has a fifty-two week low of $31.43 and a fifty-two week high of $48.25. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.96 and a quick ratio of 0.63. The business has a 50-day moving average of $40.90 and a 200-day moving average of $41.54. The firm has a market capitalization of $101.14 billion, a P/E ratio of 11.96, a price-to-earnings-growth ratio of 4.49 and a beta of 0.70.
GlaxoSmithKline (NYSE:GSK) last posted its quarterly earnings data on Wednesday, April 29th. The pharmaceutical company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.18. GlaxoSmithKline had a net margin of 19.03% and a return on equity of 31.21%. The company had revenue of $11.64 billion during the quarter, compared to analysts’ expectations of $10.95 billion. As a group, analysts forecast that GlaxoSmithKline plc will post 3.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Friday, August 14th will be paid a dividend of $0.4914 per share. The ex-dividend date is Thursday, August 13th. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.47. This represents a $1.97 annualized dividend and a yield of 4.88%. GlaxoSmithKline’s dividend payout ratio is currently 58.99%.
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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