City Holding Co. Acquires 5,094 Shares of GlaxoSmithKline PLC (NYSE:GSK)

City Holding Co. increased its position in GlaxoSmithKline PLC (NYSE:GSK) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,342 shares of the pharmaceutical company’s stock after buying an additional 5,094 shares during the period. City Holding Co.’s holdings in GlaxoSmithKline PLC were worth $1,955,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Beacon Financial Group increased its position in shares of GlaxoSmithKline PLC by 5.8% in the second quarter. Beacon Financial Group now owns 169,223 shares of the pharmaceutical company’s stock worth $7,321,000 after buying an additional 9,206 shares during the last quarter. Trust Co increased its position in GlaxoSmithKline PLC by 2.4% in the first quarter. Trust Co now owns 23,673 shares of the pharmaceutical company’s stock valued at $998,000 after buying an additional 547 shares during the last quarter. Catawba Capital Management VA increased its position in GlaxoSmithKline PLC by 8.6% in the second quarter. Catawba Capital Management VA now owns 20,248 shares of the pharmaceutical company’s stock valued at $873,000 after buying an additional 1,600 shares during the last quarter. First PREMIER Bank increased its position in GlaxoSmithKline PLC by 3.2% in the second quarter. First PREMIER Bank now owns 7,292 shares of the pharmaceutical company’s stock valued at $314,000 after buying an additional 225 shares during the last quarter. Finally, Park National Corp OH increased its position in GlaxoSmithKline PLC by 41.5% in the second quarter. Park National Corp OH now owns 8,937 shares of the pharmaceutical company’s stock valued at $385,000 after buying an additional 2,623 shares during the last quarter. 8.96% of the stock is owned by hedge funds and other institutional investors.

Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down 0.28% on Friday, hitting $38.79. 2,329,225 shares of the stock traded hands. The company has a market cap of $94.80 billion, a PE ratio of 37.51 and a beta of 1.03. The stock has a 50 day moving average of $41.84 and a 200 day moving average of $41.84. GlaxoSmithKline PLC has a one year low of $37.20 and a one year high of $44.59.

GlaxoSmithKline PLC (NYSE:GSK) last issued its quarterly earnings data on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $9.36 billion during the quarter, compared to the consensus estimate of $9.52 billion. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. Equities analysts anticipate that GlaxoSmithKline PLC will post $2.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be given a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Wednesday, August 9th. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. GlaxoSmithKline PLC’s payout ratio is currently 197.00%.

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GSK has been the topic of several research analyst reports. Zacks Investment Research cut shares of GlaxoSmithKline PLC from a “hold” rating to a “sell” rating in a report on Monday, April 17th. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Thursday, July 13th. Berenberg Bank raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. TheStreet raised GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research note on Friday, May 19th. Finally, Citigroup Inc. restated a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $46.00.

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.

Institutional Ownership by Quarter for GlaxoSmithKline PLC (NYSE:GSK)

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