GlaxoSmithKline plc (GSK) Shares Bought by Locust Wood Capital Advisers LLC

Locust Wood Capital Advisers LLC raised its position in GlaxoSmithKline plc (NYSE:GSK) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 696,765 shares of the pharmaceutical company’s stock after purchasing an additional 3,880 shares during the quarter. GlaxoSmithKline accounts for approximately 1.9% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 20th largest position. Locust Wood Capital Advisers LLC’s holdings in GlaxoSmithKline were worth $27,989,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GSK. Renaissance Technologies LLC raised its position in GlaxoSmithKline by 15.0% in the second quarter. Renaissance Technologies LLC now owns 9,329,400 shares of the pharmaceutical company’s stock valued at $376,068,000 after purchasing an additional 1,216,600 shares during the period. Morgan Stanley raised its position in GlaxoSmithKline by 19.6% in the second quarter. Morgan Stanley now owns 3,615,525 shares of the pharmaceutical company’s stock valued at $145,742,000 after purchasing an additional 592,022 shares during the period. South Texas Money Management Ltd. purchased a new stake in GlaxoSmithKline in the second quarter valued at approximately $22,195,000. Cornerstone Wealth Management LLC raised its position in GlaxoSmithKline by 4,021.2% in the second quarter. Cornerstone Wealth Management LLC now owns 354,667 shares of the pharmaceutical company’s stock valued at $8,841,000 after purchasing an additional 346,061 shares during the period. Finally, BlackRock Inc. increased its position in shares of GlaxoSmithKline by 23.6% during the second quarter. BlackRock Inc. now owns 1,577,096 shares of the pharmaceutical company’s stock worth $63,573,000 after acquiring an additional 301,154 shares during the period. 11.01% of the stock is currently owned by institutional investors.

Shares of GSK stock opened at $40.81 on Thursday. The company has a debt-to-equity ratio of 6.66, a current ratio of 0.95 and a quick ratio of 0.63. The firm has a market cap of $98.70 billion, a P/E ratio of 14.17, a PEG ratio of 2.67 and a beta of 0.80. GlaxoSmithKline plc has a 12 month low of $34.52 and a 12 month high of $42.36.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 10th. Investors of record on Friday, November 16th will be paid a dividend of $0.486 per share. The ex-dividend date is Thursday, November 15th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.76%. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. GlaxoSmithKline’s payout ratio is presently 68.06%.

A number of research firms have recently weighed in on GSK. Liberum Capital lowered GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Thursday, August 30th. Deutsche Bank reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a research report on Wednesday, August 1st. Bank of America set a $40.00 price objective on GlaxoSmithKline and gave the stock a “hold” rating in a research report on Wednesday, July 25th. TheStreet raised GlaxoSmithKline from a “c” rating to a “b” rating in a research report on Monday, August 6th. Finally, Argus upped their price objective on GlaxoSmithKline from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Monday, August 20th. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $41.57.

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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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