Sii Investments Inc. WI cut its holdings in shares of GlaxoSmithKline plc (NYSE:GSK) by 77.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,186 shares of the pharmaceutical company’s stock after selling 17,951 shares during the period. Sii Investments Inc. WI’s holdings in GlaxoSmithKline were worth $209,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of GSK. Proficio Capital Partners LLC grew its holdings in shares of GlaxoSmithKline by 16.1% during the second quarter. Proficio Capital Partners LLC now owns 3,301 shares of the pharmaceutical company’s stock valued at $135,000 after buying an additional 457 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in shares of GlaxoSmithKline by 1.9% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after buying an additional 64 shares during the last quarter. FTB Advisors Inc. grew its holdings in shares of GlaxoSmithKline by 16.9% during the second quarter. FTB Advisors Inc. now owns 3,735 shares of the pharmaceutical company’s stock valued at $146,000 after buying an additional 539 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of GlaxoSmithKline 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 buying an additional 148 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of GlaxoSmithKline 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 buying an additional 1,955 shares during the last quarter. 9.83% of the stock is currently owned by institutional investors and hedge funds.
In other GlaxoSmithKline 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 cost of $14.00 per share, with a total value of $5,999,994.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.00% of the stock is currently owned by corporate insiders.
Shares of GlaxoSmithKline plc (NYSE:GSK) opened at $35.32 on Friday. GlaxoSmithKline plc has a 1-year low of $34.72 and a 1-year high of $44.53. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.64 and a quick ratio of 0.44. The company has a market cap of $86,224.50, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.94 and a beta of 0.98.
The firm 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 $0.5037 dividend. This represents a $2.01 annualized dividend and a yield of 5.70%. This is a positive change from GlaxoSmithKline’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Thursday, November 9th. GlaxoSmithKline’s dividend payout ratio is presently 163.12%.
A number of brokerages have recently weighed in on GSK. Zacks Investment Research raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a report on Wednesday, October 18th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, October 18th. Argus reissued a “buy” rating and set a $50.00 price objective on shares of GlaxoSmithKline in a report on Thursday, August 31st. Morgan Stanley lowered shares of GlaxoSmithKline from an “equal weight” rating to an “underweight” rating in a report on Friday, September 8th. Finally, BidaskClub raised shares of GlaxoSmithKline from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company’s stock. GlaxoSmithKline has a consensus rating of “Hold” and a consensus target price of $39.71.
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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.
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