Choate Investment Advisors decreased its stake in GlaxoSmithKline plc (NYSE:GSK) by 35.2% during the first quarter, Holdings Channel reports. The institutional investor owned 27,940 shares of the pharmaceutical company’s stock after selling 15,195 shares during the quarter. Choate Investment Advisors’ holdings in GlaxoSmithKline were worth $1,168,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Dubuque Bank & Trust Co. increased its holdings in shares of GlaxoSmithKline by 195.3% in the 4th quarter. Dubuque Bank & Trust Co. now owns 685 shares of the pharmaceutical company’s stock worth $26,000 after buying an additional 453 shares during the last quarter. Claybrook Capital LLC purchased a new stake in shares of GlaxoSmithKline in the 4th quarter valued at $26,000. Berman Capital Advisors LLC purchased a new stake in shares of GlaxoSmithKline in the 4th quarter valued at $32,000. Reilly Financial Advisors LLC boosted its stake in shares of GlaxoSmithKline by 36.7% in the 1st quarter. Reilly Financial Advisors LLC now owns 950 shares of the pharmaceutical company’s stock valued at $36,000 after purchasing an additional 255 shares in the last quarter. Finally, Lavaca Capital LLC purchased a new stake in shares of GlaxoSmithKline in the 4th quarter valued at $37,000. 11.08% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. UBS Group cut shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research note on Friday, February 22nd. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Tuesday, April 23rd. Shore Capital cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. BNP Paribas cut shares of GlaxoSmithKline from an “outperform” rating to a “neutral” rating in a research note on Monday, January 14th. Finally, Exane BNP Paribas cut shares of GlaxoSmithKline from an “outperform” rating to a “neutral” rating in a research note on Monday, January 14th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $41.83.
GlaxoSmithKline (NYSE:GSK) last announced its quarterly earnings results on Wednesday, February 6th. The pharmaceutical company reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.09. The business had revenue of $10.55 billion during the quarter, compared to analysts’ expectations of $9.85 billion. GlaxoSmithKline had a net margin of 11.45% and a return on equity of 160.39%. Sell-side analysts expect that GlaxoSmithKline plc will post 2.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Friday, February 22nd were given a dividend of $0.597 per share. The ex-dividend date of this dividend was Thursday, February 21st. This represents a $2.39 annualized dividend and a yield of 5.89%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s dividend payout ratio is presently 75.32%.
In other news, Director Plc Glaxosmithkline purchased 325,000 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was acquired at an average price of $18.00 per share, with a total value of $5,850,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.00% of the company’s stock.
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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