GlaxoSmithKline plc (LON:GSK)’s share price dropped 0.6% during mid-day trading on Wednesday after Liberum Capital lowered their price target on the stock from GBX 1,900 to GBX 1,760. Liberum Capital currently has a buy rating on the stock. GlaxoSmithKline plc traded as low as GBX 1,511 ($20.04) and last traded at GBX 1,511 ($20.04). Approximately 6,739,109 shares changed hands during mid-day trading, a decline of 14% from the average daily volume of 7,820,410 shares. The stock had previously closed at GBX 1,520 ($20.16).

Several other brokerages also recently issued reports on GSK. S&P Global set a GBX 1,500 ($19.90) price objective on GlaxoSmithKline plc and gave the company a “sell” rating in a research report on Tuesday, June 6th. UBS AG set a GBX 1,600 ($21.22) price objective on GlaxoSmithKline plc and gave the company a “neutral” rating in a research report on Wednesday, July 26th. Goldman Sachs Group, Inc. (The) set a GBX 1,900 ($25.20) price objective on GlaxoSmithKline plc and gave the company a “buy” rating in a research report on Tuesday, August 8th. Jefferies Group LLC reiterated a “buy” rating and issued a GBX 1,900 ($25.20) price objective on shares of GlaxoSmithKline plc in a research report on Thursday, July 13th. Finally, Bryan, Garnier & Co reiterated a “neutral” rating and issued a GBX 1,710 ($22.68) price objective on shares of GlaxoSmithKline plc in a research report on Tuesday, September 19th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. GlaxoSmithKline plc has an average rating of “Hold” and a consensus target price of GBX 1,691.86 ($22.44).

In other GlaxoSmithKline plc news, insider Manvinder Singh Banga bought 2,267 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was purchased at an average cost of GBX 1,599 ($21.21) per share, with a total value of £36,249.33 ($48,082.41). Also, insider Patrick Vallance bought 861 shares of the firm’s stock in a transaction on Friday, July 14th. The stock was acquired at an average cost of GBX 1,618 ($21.46) per share, with a total value of £13,930.98 ($18,478.55). Over the last three months, insiders acquired 3,152 shares of company stock valued at $5,055,023.

The firm’s market capitalization is GBX 74.47 billion. The stock’s 50-day moving average price is GBX 1,497.17 and its 200-day moving average price is GBX 1,591.53.

The firm also recently disclosed a dividend, which will be paid on Thursday, October 12th. Stockholders of record on Thursday, August 10th will be given a GBX 19 ($0.25) dividend. This represents a dividend yield of 1.23%. The ex-dividend date is Thursday, August 10th.

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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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