GYL Financial Synergies LLC purchased a new position in shares of GlaxoSmithKline plc (NYSE:GSK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,706 shares of the pharmaceutical company’s stock, valued at approximately $1,826,000.
Several other hedge funds have also recently added to or reduced their stakes in GSK. Boston Partners purchased a new position in shares of GlaxoSmithKline during the 4th quarter worth about $65,234,000. Norges Bank purchased a new stake in GlaxoSmithKline in the 4th quarter valued at about $17,275,000. Two Sigma Investments LP purchased a new stake in GlaxoSmithKline in the 4th quarter valued at about $15,936,000. Deutsche Bank AG boosted its position in GlaxoSmithKline by 221.0% in the 4th quarter. Deutsche Bank AG now owns 529,309 shares of the pharmaceutical company’s stock valued at $20,222,000 after buying an additional 364,431 shares during the period. Finally, Millennium Management LLC boosted its position in GlaxoSmithKline by 612.0% in the 4th quarter. Millennium Management LLC now owns 365,325 shares of the pharmaceutical company’s stock valued at $13,959,000 after buying an additional 314,016 shares during the period. 11.26% of the stock is owned by hedge funds and other institutional investors.
Shares of GSK traded up $0.39 during mid-day trading on Wednesday, hitting $40.31. The company’s stock had a trading volume of 96,189 shares, compared to its average volume of 2,687,354. GlaxoSmithKline plc has a 52-week low of $36.41 and a 52-week high of $42.36. The stock has a market capitalization of $99.91 billion, a PE ratio of 12.77, a PEG ratio of 2.07 and a beta of 0.74. The company has a debt-to-equity ratio of 6.92, a quick ratio of 0.48 and a current ratio of 0.72.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Friday, May 17th will be given a $0.4953 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $1.98 annualized dividend and a dividend yield of 4.92%. GlaxoSmithKline’s payout ratio is presently 61.71%.
Several equities research analysts have issued reports on GSK shares. UBS Group cut shares of GlaxoSmithKline from a “buy” rating to a “neutral” rating in a research report 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 report on Tuesday, April 23rd. Cowen reissued a “hold” rating and issued a $45.00 price objective on shares of GlaxoSmithKline in a research report on Monday. Finally, Shore Capital cut shares of GlaxoSmithKline from a “buy” rating to a “hold” rating in a research report on Friday, March 8th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $42.28.
In other GlaxoSmithKline news, Director Plc Glaxosmithkline purchased 385,714 shares of the stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average price of $14.00 per share, with a total value of $5,399,996.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 10.00% of the stock is currently owned by corporate insiders.
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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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