Kahn Brothers Group Inc. DE Grows Position in GlaxoSmithKline plc (GSK)

Kahn Brothers Group Inc. DE lifted its holdings in shares of GlaxoSmithKline plc (NYSE:GSK) by 0.4% during the 3rd quarter, Holdings Channel reports. The firm owned 1,241,516 shares of the pharmaceutical company’s stock after buying an additional 4,924 shares during the quarter. GlaxoSmithKline accounts for about 7.7% of Kahn Brothers Group Inc. DE’s investment portfolio, making the stock its 6th largest holding. Kahn Brothers Group Inc. DE’s holdings in GlaxoSmithKline were worth $49,872,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Centaurus Financial Inc. grew its holdings in GlaxoSmithKline by 250.2% in the 2nd quarter. Centaurus Financial Inc. now owns 14,096 shares of the pharmaceutical company’s stock worth $568,000 after acquiring an additional 10,071 shares during the last quarter. Old Port Advisors bought a new stake in GlaxoSmithKline in the 2nd quarter worth $2,710,000. New England Asset Management Inc. bought a new stake in GlaxoSmithKline in the 2nd quarter worth $256,000. Jacobs & Co. CA grew its holdings in GlaxoSmithKline by 14.6% in the 3rd quarter. Jacobs & Co. CA now owns 89,202 shares of the pharmaceutical company’s stock worth $3,583,000 after acquiring an additional 11,370 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new stake in GlaxoSmithKline in the 2nd quarter worth $6,143,000. 11.01% of the stock is currently owned by institutional investors.

GlaxoSmithKline stock traded up $0.29 during trading hours on Tuesday, reaching $39.61. The stock had a trading volume of 3,338,980 shares, compared to its average volume of 2,735,210. The firm has a market cap of $97.51 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.87. GlaxoSmithKline plc has a 52 week low of $34.52 and a 52 week high of $42.36. The company has a quick ratio of 0.61, a current ratio of 0.94 and a debt-to-equity ratio of 8.13.

GSK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Tuesday, September 25th. Wolfe Research initiated coverage on shares of GlaxoSmithKline in a report on Tuesday, October 23rd. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a report on Tuesday, September 25th. ValuEngine raised shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Friday, October 19th. Finally, Liberum Capital lowered shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a report on Thursday, August 30th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. GlaxoSmithKline presently has a consensus rating of “Hold” and an average target price of $41.57.

GlaxoSmithKline 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.

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Institutional Ownership by Quarter for GlaxoSmithKline (NYSE:GSK)

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