GlaxoSmithKline plc (NYSE:gsk) announced a quarterly dividend on Wednesday, April 26th. Stockholders of record on Friday, May 12th will be given a dividend of 0.483 per share by the pharmaceutical company on Thursday, July 13th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Wednesday, May 10th. This is a boost from GlaxoSmithKline plc’s previous quarterly dividend of $0.46.
GlaxoSmithKline plc has decreased its dividend by an average of 3.1% per year over the last three years. GlaxoSmithKline plc has a payout ratio of 68.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect GlaxoSmithKline plc to earn $2.86 per share next year, which means the company should continue to be able to cover its $1.93 annual dividend with an expected future payout ratio of 67.5%.
GlaxoSmithKline plc (NYSE:GSK) traded up 0.35% during midday trading on Friday, hitting $43.39. 584,269 shares of the stock were exchanged. GlaxoSmithKline plc has a 1-year low of $37.20 and a 1-year high of $45.58. The firm has a market capitalization of $106.00 billion, a P/E ratio of 49.53 and a beta of 0.94. The firm’s 50-day moving average price is $41.79 and its 200 day moving average price is $40.20.
GlaxoSmithKline plc (NYSE:GSK) last released its quarterly earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.62. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.09 billion. GlaxoSmithKline plc had a return on equity of 100.68% and a net margin of 3.11%. Analysts expect that GlaxoSmithKline plc will post $2.82 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in GlaxoSmithKline plc stock. Geode Capital Management LLC boosted its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 46.3% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 129,145 shares of the pharmaceutical company’s stock after buying an additional 40,858 shares during the period. Geode Capital Management LLC’s holdings in GlaxoSmithKline plc were worth $5,444,000 at the end of the most recent quarter. 8.41% of the stock is owned by hedge funds and other institutional investors.
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Several research firms have recently issued reports on GSK. Zacks Investment Research downgraded GlaxoSmithKline plc from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. BNP Paribas upgraded GlaxoSmithKline plc from an “underperform” rating to a “neutral” rating and decreased their price target for the stock from $45.58 to $37.20 in a research note on Wednesday, April 5th. Exane BNP Paribas upgraded GlaxoSmithKline plc from an “underperform” rating to a “neutral” rating in a research note on Wednesday, April 5th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of GlaxoSmithKline plc in a research note on Monday, January 30th. Finally, Barclays PLC assumed coverage on GlaxoSmithKline plc in a research report on Tuesday, March 7th. They set an “equal weight” rating for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $45.25.
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.
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