Trust Investment Advisors cut its stake in shares of GlaxoSmithKline PLC (NYSE:GSK) by 11.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,885 shares of the pharmaceutical company’s stock after selling 3,950 shares during the period. GlaxoSmithKline PLC accounts for about 1.4% of Trust Investment Advisors’ portfolio, making the stock its 29th biggest position. Trust Investment Advisors’ holdings in GlaxoSmithKline PLC were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Bingham Osborn & Scarborough LLC purchased a new stake in GlaxoSmithKline PLC during the second quarter valued at approximately $311,000. Freestone Capital Holdings LLC raised its position in GlaxoSmithKline PLC by 11.9% during the second quarter. Freestone Capital Holdings LLC now owns 94,008 shares of the pharmaceutical company’s stock valued at $4,054,000 after purchasing an additional 10,017 shares during the period. Renaissance Technologies LLC raised its position in GlaxoSmithKline PLC by 112.1% during the second quarter. Renaissance Technologies LLC now owns 9,338,000 shares of the pharmaceutical company’s stock valued at $402,655,000 after purchasing an additional 4,935,900 shares during the period. Fulton Bank N.A. raised its position in GlaxoSmithKline PLC by 4.9% during the third quarter. Fulton Bank N.A. now owns 75,269 shares of the pharmaceutical company’s stock valued at $3,056,000 after purchasing an additional 3,515 shares during the period. Finally, First Bank & Trust raised its position in GlaxoSmithKline PLC by 20.8% during the third quarter. First Bank & Trust now owns 44,540 shares of the pharmaceutical company’s stock valued at $1,808,000 after purchasing an additional 7,673 shares during the period. Institutional investors and hedge funds own 9.32% of the company’s stock.
In related news, major shareholder Plc Glaxosmithkline bought 428,571 shares of the company’s stock in a transaction on Monday, November 6th. The shares were acquired at an average price of $14.00 per share, with a total value of $5,999,994.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 10.00% of the stock is currently owned by company insiders.
Shares of GlaxoSmithKline PLC (NYSE:GSK) traded down $0.21 during midday trading on Tuesday, reaching $35.09. The company’s stock had a trading volume of 5,182,300 shares, compared to its average volume of 3,432,454. 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 $86,814.73, a PE ratio of 12.52, a PEG ratio of 1.96 and a beta of 1.00. GlaxoSmithKline PLC has a 1-year low of $34.97 and a 1-year high of $44.53.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Friday, November 10th will be given a dividend of $0.5037 per share. This represents a $2.01 annualized dividend and a yield of 5.74%. The ex-dividend date of this dividend is Thursday, November 9th. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.49. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is 163.12%.
A number of research firms have recently commented on GSK. Zacks Investment Research raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Wednesday, October 18th. Morgan Stanley cut GlaxoSmithKline PLC from an “equal weight” rating to an “underweight” rating in a research note on Friday, September 8th. Argus reaffirmed a “buy” rating and set a $50.00 target price on shares of GlaxoSmithKline PLC in a research note on Thursday, August 31st. TheStreet raised GlaxoSmithKline PLC from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. Finally, BidaskClub raised GlaxoSmithKline PLC from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $44.33.
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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