GlaxoSmithKline PLC (GSK) Position Raised by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. raised its position in shares of GlaxoSmithKline PLC (NYSE:GSK) by 14.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,097 shares of the pharmaceutical company’s stock after buying an additional 30,236 shares during the period. Oppenheimer Asset Management Inc.’s holdings in GlaxoSmithKline PLC were worth $10,397,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of GlaxoSmithKline PLC during the first quarter worth about $578,000. First Midwest Bank Trust Division increased its position in shares of GlaxoSmithKline PLC by 10.7% in the first quarter. First Midwest Bank Trust Division now owns 6,141 shares of the pharmaceutical company’s stock worth $259,000 after buying an additional 596 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of GlaxoSmithKline PLC during the first quarter worth about $5,472,000. Wesbanco Bank Inc. increased its position in shares of GlaxoSmithKline PLC by 2.8% in the first quarter. Wesbanco Bank Inc. now owns 12,765 shares of the pharmaceutical company’s stock worth $538,000 after buying an additional 350 shares during the period. Finally, WealthTrust Axiom LLC increased its position in shares of GlaxoSmithKline PLC by 13.5% in the first quarter. WealthTrust Axiom LLC now owns 12,191 shares of the pharmaceutical company’s stock worth $513,000 after buying an additional 1,453 shares during the period. Hedge funds and other institutional investors own 9.28% of the company’s stock.
Shares of GlaxoSmithKline PLC (NYSE GSK) traded down 0.07% on Friday, hitting $40.20. The stock had a trading volume of 406,274 shares. The stock has a market cap of $98.25 billion, a PE ratio of 39.96 and a beta of 1.03. GlaxoSmithKline PLC has a 12 month low of $37.20 and a 12 month high of $44.53. The stock has a 50 day moving average of $40.42 and a 200-day moving average of $41.83.
GlaxoSmithKline PLC (NYSE:GSK) last released its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a return on equity of 114.93% and a net margin of 6.48%. The business had revenue of $9.36 billion during the quarter, compared to analyst estimates of $9.52 billion. Equities research analysts anticipate that GlaxoSmithKline PLC will post $2.85 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders 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 yield of 4.88%. The ex-dividend date is Wednesday, August 9th. This is a positive change 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 subject of a number of recent analyst reports. TheStreet upgraded GlaxoSmithKline PLC from a “c” rating to a “b” rating in a research note on Friday, May 19th. Berenberg Bank upgraded GlaxoSmithKline PLC from a “hold” rating to a “buy” rating in a research note on Friday, May 26th. J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline PLC in a research note on Wednesday, May 31st. ValuEngine downgraded GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. downgraded GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target 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.
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