Chemung Canal Trust Co. Takes Position in GlaxoSmithKline PLC (GSK)
Chemung Canal Trust Co. acquired a new stake in GlaxoSmithKline PLC (NYSE:GSK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,859 shares of the pharmaceutical company’s stock, valued at approximately $210,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in GlaxoSmithKline PLC by 11.7% in the first quarter. FMR LLC now owns 23,635,038 shares of the pharmaceutical company’s stock valued at $996,452,000 after buying an additional 2,482,009 shares during the period. Fisher Asset Management LLC raised its position in GlaxoSmithKline PLC by 4.7% in the second quarter. Fisher Asset Management LLC now owns 12,534,385 shares of the pharmaceutical company’s stock valued at $540,483,000 after buying an additional 564,519 shares during the period. Bank of America Corp DE raised its position in GlaxoSmithKline PLC by 15.8% in the first quarter. Bank of America Corp DE now owns 6,849,632 shares of the pharmaceutical company’s stock valued at $288,780,000 after buying an additional 934,928 shares during the period. Renaissance Technologies LLC raised its position in GlaxoSmithKline PLC by 42.7% in the first quarter. Renaissance Technologies LLC now owns 4,402,100 shares of the pharmaceutical company’s stock valued at $185,593,000 after buying an additional 1,316,600 shares during the period. Finally, Brandes Investment Partners LP raised its position in GlaxoSmithKline PLC by 6.8% in the first quarter. Brandes Investment Partners LP now owns 3,363,788 shares of the pharmaceutical company’s stock valued at $141,817,000 after buying an additional 214,167 shares during the period. 8.96% of the stock is owned by hedge funds and other institutional investors.
GlaxoSmithKline PLC (NYSE GSK) traded down 0.26% during trading on Friday, reaching $42.66. The company’s stock had a trading volume of 2,280,071 shares. The company has a 50-day moving average of $43.28 and a 200 day moving average of $41.70. The firm has a market cap of $104.22 billion, a PE ratio of 47.72 and a beta of 1.04. GlaxoSmithKline PLC has a one year low of $37.20 and a one year high of $45.58.
GlaxoSmithKline PLC (NYSE:GSK) last announced its earnings results on Wednesday, April 26th. The pharmaceutical company reported $0.62 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.62. GlaxoSmithKline PLC had a net margin of 5.48% and a return on equity of 113.31%. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.09 billion. Analysts expect that GlaxoSmithKline PLC will post $2.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 13th. Shareholders of record on Friday, May 12th were paid a dividend of $0.483 per share. This is an increase from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Wednesday, May 10th. This represents a $1.93 dividend on an annualized basis and a dividend yield of 4.53%. GlaxoSmithKline PLC’s dividend payout ratio (DPR) is currently 233.74%.
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Several research analysts have recently weighed in on GSK shares. Zacks Investment Research lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday. J P Morgan Chase & Co reissued a “neutral” rating on shares of GlaxoSmithKline PLC in a research report on Friday, June 16th. ValuEngine lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Berenberg Bank raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Finally, BNP Paribas lowered their price objective on GlaxoSmithKline PLC to $37.00 in a research report on Thursday, April 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. GlaxoSmithKline PLC currently has a consensus rating of “Hold” and an average target price of $46.00.
GlaxoSmithKline PLC Company Profile
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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