GlaxoSmithKline (GSK) Sets New 1-Year Low at $34.53

GlaxoSmithKline plc (NYSE:GSK) shares hit a new 52-week low on Wednesday . The company traded as low as $34.53 and last traded at $34.60, with a volume of 3125536 shares trading hands. The stock had previously closed at $34.86.

A number of research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, October 18th. J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, October 18th. Argus reiterated a “buy” rating and set a $50.00 price target on shares of GlaxoSmithKline in a report on Thursday, August 31st. Morgan Stanley cut shares of GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a report on Friday, September 8th. Finally, BidaskClub upgraded shares of GlaxoSmithKline from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $39.71.

The company has a debt-to-equity ratio of 2.96, a current ratio of 0.64 and a quick ratio of 0.44. The stock has a market cap of $84,740.00, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.93 and a beta of 0.97.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.5037 per share. This represents a $2.01 annualized dividend and a yield of 5.78%. The ex-dividend date is Thursday, November 9th. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s payout ratio is 156.69%.

In other news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the stock in a transaction on Monday, November 6th. The stock was bought at an average price of $14.00 per share, for a total transaction of $5,999,994.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 10.00% of the company’s stock.

Several large investors have recently modified their holdings of the company. 1st Global Advisors Inc. lifted its position in shares of GlaxoSmithKline by 0.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock worth $227,000 after buying an additional 19 shares during the last quarter. King Luther Capital Management Corp lifted its position in shares of GlaxoSmithKline by 1.0% during the 2nd quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock worth $234,000 after buying an additional 55 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of GlaxoSmithKline by 1.9% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after buying an additional 64 shares during the last quarter. Strategic Global Advisors LLC lifted its position in shares of GlaxoSmithKline by 0.6% during the 2nd quarter. Strategic Global Advisors LLC now owns 12,179 shares of the pharmaceutical company’s stock worth $525,000 after buying an additional 75 shares during the last quarter. Finally, PagnatoKarp Partners LLC lifted its position in shares of GlaxoSmithKline by 1.4% during the 2nd quarter. PagnatoKarp Partners LLC now owns 5,812 shares of the pharmaceutical company’s stock worth $253,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 9.83% of the company’s stock.

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About GlaxoSmithKline

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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