Conning Inc. increased its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 354.1% during the second quarter, Holdings Channel reports. The institutional investor owned 27,090 shares of the pharmaceutical company’s stock after buying an additional 21,125 shares during the period. Conning Inc.’s holdings in GlaxoSmithKline PLC were worth $1,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ledyard National Bank raised its position in GlaxoSmithKline PLC by 768.4% in the first quarter. Ledyard National Bank now owns 9,752 shares of the pharmaceutical company’s stock worth $411,000 after buying an additional 8,629 shares in the last quarter. Courier Capital LLC raised its position in GlaxoSmithKline PLC by 2.2% in the first quarter. Courier Capital LLC now owns 8,456 shares of the pharmaceutical company’s stock worth $357,000 after buying an additional 180 shares in the last quarter. Alta Capital Management LLC raised its position in GlaxoSmithKline PLC by 2.7% in the first quarter. Alta Capital Management LLC now owns 26,318 shares of the pharmaceutical company’s stock worth $1,109,000 after buying an additional 703 shares in the last quarter. Greylin Investment Mangement Inc. raised its position in GlaxoSmithKline PLC by 9.9% in the first quarter. Greylin Investment Mangement Inc. now owns 114,695 shares of the pharmaceutical company’s stock worth $4,836,000 after buying an additional 10,305 shares in the last quarter. Finally, Bank of The West raised its position in GlaxoSmithKline PLC by 2.5% in the first quarter. Bank of The West now owns 7,558 shares of the pharmaceutical company’s stock worth $318,000 after buying an additional 185 shares in the last quarter. Institutional investors own 8.99% of the company’s stock.

Shares of GlaxoSmithKline PLC (NYSE GSK) opened at 39.01 on Tuesday. The company has a market capitalization of $95.34 billion, a price-to-earnings ratio of 37.73 and a beta of 1.03. GlaxoSmithKline PLC has a 52 week low of $37.20 and a 52 week high of $44.59. The firm has a 50 day moving average price of $41.69 and a 200 day moving average price of $41.88.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Friday, August 11th will be issued a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a dividend yield of 5.03%. This is a boost from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date is Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio is presently 197.00%.

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A number of research firms have recently weighed in on GSK. ValuEngine lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Friday, June 16th. TheStreet upgraded GlaxoSmithKline PLC from a “c” rating to a “b” rating in a report on Friday, May 19th. Citigroup Inc. lowered GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research lowered GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. GlaxoSmithKline PLC presently has an average rating of “Hold” and a consensus price target of $44.67.

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

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