Cullen Capital Management LLC lessened its holdings in GlaxoSmithKline PLC (NYSE:GSK) by 73.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,740 shares of the pharmaceutical company’s stock after selling 42,630 shares during the quarter. Cullen Capital Management LLC’s holdings in GlaxoSmithKline PLC were worth $679,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. 1st Global Advisors Inc. boosted its holdings in shares of GlaxoSmithKline PLC by 0.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,271 shares of the pharmaceutical company’s stock valued at $227,000 after purchasing an additional 19 shares in the last quarter. Carroll Financial Associates Inc. boosted its holdings in shares of GlaxoSmithKline PLC by 0.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 8,690 shares of the pharmaceutical company’s stock valued at $374,000 after purchasing an additional 35 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of GlaxoSmithKline PLC by 1.0% in the 2nd quarter. King Luther Capital Management Corp now owns 5,432 shares of the pharmaceutical company’s stock valued at $234,000 after purchasing an additional 55 shares in the last quarter. First National Bank of Omaha boosted its holdings in shares of GlaxoSmithKline PLC by 0.3% in the 2nd quarter. First National Bank of Omaha now owns 19,177 shares of the pharmaceutical company’s stock valued at $827,000 after purchasing an additional 57 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in shares of GlaxoSmithKline PLC by 1.9% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,374 shares of the pharmaceutical company’s stock valued at $137,000 after purchasing an additional 64 shares in the last quarter. 9.28% of the stock is currently owned by hedge funds and other institutional investors.

GlaxoSmithKline PLC (NYSE:GSK) last posted its quarterly earnings results on Wednesday, July 26th. The pharmaceutical company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. GlaxoSmithKline PLC had a net margin of 6.48% and a return on equity of 114.93%. The business had revenue of $9.36 billion during the quarter, compared to analyst estimates of $9.52 billion.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Friday, August 11th were given a dividend of $0.491 per share. This represents a $1.96 annualized dividend and a yield of 4.79%. This is a positive change from GlaxoSmithKline PLC’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, August 9th. GlaxoSmithKline PLC’s dividend payout ratio is presently 198.00%.

GSK has been the topic of a number of research analyst reports. Argus reaffirmed a “buy” rating and issued a $50.00 target price on shares of GlaxoSmithKline PLC in a report on Thursday, August 31st. Zacks Investment Research raised GlaxoSmithKline PLC from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, July 18th. TheStreet downgraded GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a report on Wednesday, July 26th. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Thursday, July 13th. Finally, Citigroup Inc. downgraded GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a report on Wednesday, July 5th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $44.67.

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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.

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

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