GSB Wealth Management LLC held its stake in GlaxoSmithKline PLC (NYSE:GSK) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,270 shares of the pharmaceutical company’s stock at the close of the second quarter. GlaxoSmithKline PLC accounts for approximately 1.6% of GSB Wealth Management LLC’s holdings, making the stock its 20th biggest holding. GSB Wealth Management LLC’s holdings in GlaxoSmithKline PLC were worth $357,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in GSK. Russell Investments Group Ltd. acquired a new position in shares of GlaxoSmithKline PLC in the first quarter valued at approximately $578,000. SG Americas Securities LLC acquired a new position in shares of GlaxoSmithKline PLC in the first quarter valued at approximately $399,000. Neuberger Berman Group LLC grew its holdings in shares of GlaxoSmithKline PLC by 48.9% in the first quarter. Neuberger Berman Group LLC now owns 971,788 shares of the pharmaceutical company’s stock valued at $40,971,000 after purchasing an additional 319,064 shares in the last quarter. Mastrapasqua Asset Management Inc. grew its holdings in shares of GlaxoSmithKline PLC by 30.3% in the first quarter. Mastrapasqua Asset Management Inc. now owns 13,870 shares of the pharmaceutical company’s stock valued at $585,000 after purchasing an additional 3,225 shares in the last quarter. Finally, WFG Advisors LP grew its holdings in shares of GlaxoSmithKline PLC by 7.6% in the first quarter. WFG Advisors LP now owns 5,392 shares of the pharmaceutical company’s stock valued at $227,000 after purchasing an additional 379 shares in the last quarter. Hedge funds and other institutional investors own 9.28% of the company’s stock.

Shares of GlaxoSmithKline PLC (GSK) traded down 0.02% during mid-day trading on Friday, hitting $41.01. 4,354,724 shares of the stock traded hands. The stock has a market cap of $100.23 billion, a PE ratio of 39.74 and a beta of 1.03. GlaxoSmithKline PLC has a one year low of $37.20 and a one year high of $44.54. The stock has a 50-day moving average of $40.35 and a 200 day moving average of $41.58.

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, topping analysts’ consensus estimates 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 the consensus estimate of $9.52 billion. Equities analysts predict that GlaxoSmithKline PLC will post $2.87 EPS for the current fiscal year.

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

A number of research analysts recently weighed in on the stock. J P Morgan Chase & Co restated a “neutral” rating on shares of GlaxoSmithKline PLC in a report on Thursday, September 21st. Citigroup Inc. downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 5th. BidaskClub downgraded shares of GlaxoSmithKline PLC from a “sell” rating to a “strong sell” rating in a research note on Monday, July 24th. TheStreet downgraded shares of GlaxoSmithKline PLC from a “b” rating to a “c+” rating in a research note on Wednesday, July 26th. Finally, Zacks Investment Research downgraded shares of GlaxoSmithKline PLC from a “buy” rating to a “hold” rating in a research note on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. GlaxoSmithKline PLC has a consensus rating of “Hold” and an average price target of $44.67.

ILLEGAL ACTIVITY WARNING: “GSB Wealth Management LLC Holds Holdings in GlaxoSmithKline PLC (GSK)” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.thecerbatgem.com/2017/10/15/gsb-wealth-management-llc-holds-holdings-in-glaxosmithkline-plc-gsk.html.

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.

Want to see what other hedge funds are holding GSK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GlaxoSmithKline PLC (NYSE:GSK).

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

Receive News & Stock Ratings for GlaxoSmithKline PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GlaxoSmithKline PLC and related stocks with our FREE daily email newsletter.