Commerce Bank cut its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,336 shares of the pharmaceutical company’s stock after selling 1,641 shares during the period. Commerce Bank’s holdings in GlaxoSmithKline PLC were worth $1,637,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of GSK. Renaissance Technologies LLC raised its stake in GlaxoSmithKline PLC by 112.1% during the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock worth $402,655,000 after purchasing an additional 4,935,900 shares during the period. FMR LLC raised its stake in GlaxoSmithKline PLC by 5.9% during the second quarter. FMR LLC now owns 25,024,276 shares of the pharmaceutical company’s stock worth $1,079,047,000 after purchasing an additional 1,389,238 shares during the period. Federated Investors Inc. PA raised its stake in GlaxoSmithKline PLC by 22.7% during the second quarter. Federated Investors Inc. PA now owns 4,511,155 shares of the pharmaceutical company’s stock worth $194,521,000 after purchasing an additional 833,501 shares during the period. Marshall Wace North America L.P. raised its stake in GlaxoSmithKline PLC by 148.0% during the second quarter. Marshall Wace North America L.P. now owns 1,119,491 shares of the pharmaceutical company’s stock worth $48,138,000 after purchasing an additional 668,088 shares during the period. Finally, Seatown Holdings Pte. Ltd. purchased a new position in GlaxoSmithKline PLC during the third quarter worth about $20,148,000. 9.32% of the stock is currently owned by institutional investors.
In other GlaxoSmithKline PLC news, major shareholder Plc Glaxosmithkline acquired 428,571 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.
Shares of GlaxoSmithKline PLC (GSK) traded down $0.13 during mid-day trading on Friday, hitting $35.06. 2,585,265 shares of the company were exchanged, compared to its average volume of 6,982,297. The company has a quick ratio of 0.44, a current ratio of 0.64 and a debt-to-equity ratio of 2.96. The firm has a market capitalization of $86,224.50, a PE ratio of 12.43, a P/E/G ratio of 1.94 and a beta of 1.00. GlaxoSmithKline PLC has a 52-week low of $34.72 and a 52-week high of $44.53.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 11th. Investors of record on Friday, November 10th will be issued a $0.5037 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.01 dividend on an annualized basis and a dividend yield of 5.75%. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. GlaxoSmithKline PLC’s payout ratio is 163.12%.
A number of brokerages have commented on GSK. Citigroup Inc. reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 27th. TheStreet downgraded shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Argus reissued a “buy” rating and issued a $50.00 price target on shares of GlaxoSmithKline PLC in a research note on Thursday, August 31st. Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Bank of America Corporation downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $44.33.
GlaxoSmithKline PLC Profile
GlaxoSmithKline plc is a global healthcare company. The Company operates through three segments: Pharmaceuticals, Vaccines and Consumer Healthcare. The Company focuses on its research across six areas: Respiratory diseases, human immunodeficiency virus (HIV)/infectious diseases, Vaccines, Immuno-inflammation, Oncology and Rare diseases.
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