Spectrum Management Group Inc. purchased a new position in GlaxoSmithKline PLC (NYSE:GSK) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,450 shares of the pharmaceutical company’s stock, valued at approximately $505,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of GSK. Proficio Capital Partners LLC lifted its position in shares of GlaxoSmithKline PLC by 16.1% in the second quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock worth $135,000 after purchasing an additional 457 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of GlaxoSmithKline PLC by 1.9% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock worth $137,000 after purchasing an additional 64 shares in the last quarter. FTB Advisors Inc. lifted its position in shares of GlaxoSmithKline PLC by 16.9% in the second quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock worth $146,000 after purchasing an additional 539 shares in the last quarter. Quadrant Capital Group LLC raised its position in GlaxoSmithKline PLC by 3.5% during the second quarter. Quadrant Capital Group LLC now owns 4,345 shares of the pharmaceutical company’s stock valued at $162,000 after acquiring an additional 148 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in GlaxoSmithKline PLC by 93.4% during the second quarter. Parallel Advisors LLC now owns 4,048 shares of the pharmaceutical company’s stock valued at $164,000 after acquiring an additional 1,955 shares in the last quarter. 9.32% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently weighed in on GSK shares. Zacks Investment Research lowered shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Tuesday, October 24th. BidaskClub lowered shares of GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research report on Monday, July 24th. Investec lowered shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley lowered shares of GlaxoSmithKline PLC from an “equal weight” rating to an “underweight” rating in a research report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $44.33.
In related news, major shareholder Plc Glaxosmithkline purchased 428,571 shares of the stock in a transaction on Monday, November 6th. The shares were 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded up $0.31 during mid-day trading on Friday, reaching $35.19. The company’s stock had a trading volume of 4,089,100 shares, compared to its average volume of 3,443,574. GlaxoSmithKline PLC has a one year low of $34.72 and a one year high of $44.53. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.44 and a current ratio of 0.64. The firm has a market capitalization of $85,050.00, a P/E ratio of 12.37, a PEG ratio of 1.93 and a beta of 1.00.
The business 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 5.73%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is 159.20%.
TRADEMARK VIOLATION WARNING: “Spectrum Management Group Inc. Takes Position in GlaxoSmithKline PLC (GSK)” was published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The correct version of this article can be read at https://transcriptdaily.com/2017/11/17/spectrum-management-group-inc-takes-position-in-glaxosmithkline-plc-gsk.html.
About GlaxoSmithKline PLC
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.
Receive News & Ratings for GlaxoSmithKline PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline PLC and related companies with MarketBeat.com's FREE daily email newsletter.