Wetherby Asset Management Inc. Boosts Position in GlaxoSmithKline plc (GSK)
Wetherby Asset Management Inc. boosted its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,950 shares of the pharmaceutical company’s stock after buying an additional 2,198 shares during the quarter. Wetherby Asset Management Inc.’s holdings in GlaxoSmithKline were worth $1,484,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Optimum Investment Advisors lifted its holdings in GlaxoSmithKline by 88.5% during the third quarter. Optimum Investment Advisors now owns 2,749 shares of the pharmaceutical company’s stock valued at $110,000 after purchasing an additional 1,291 shares during the last quarter. Kiley Juergens Wealth Management LLC purchased a new stake in GlaxoSmithKline during the second quarter valued at about $113,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in GlaxoSmithKline during the second quarter valued at about $134,000. Whitener Capital Management Inc. purchased a new stake in GlaxoSmithKline during the third quarter valued at about $185,000. Finally, Toronto Dominion Bank lifted its holdings in GlaxoSmithKline by 46.0% during the second quarter. Toronto Dominion Bank now owns 4,600 shares of the pharmaceutical company’s stock valued at $186,000 after purchasing an additional 1,450 shares during the last quarter. Institutional investors own 10.99% of the company’s stock.
Several equities research analysts have commented on GSK shares. Zacks Investment Research raised shares of GlaxoSmithKline from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Friday, July 20th. Bank of America set a $40.00 price objective on shares of GlaxoSmithKline and gave the company a “hold” rating in a report on Wednesday, July 25th. Shore Capital raised shares of GlaxoSmithKline from a “hold” rating to a “buy” rating in a report on Friday, July 27th. Finally, Deutsche Bank reaffirmed a “neutral” rating on shares of GlaxoSmithKline in a report on Wednesday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.57.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 10th. Stockholders of record on Friday, November 16th will be issued a $0.486 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.70%. This is an increase from GlaxoSmithKline’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, November 15th. GlaxoSmithKline’s dividend payout ratio is presently 68.06%.
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GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of vaccines, over-the-counter medicines, and health-related consumer products worldwide. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare. The company offers pharmaceutical products comprising medicines in the therapeutic areas, such as respiratory, anti-virals, central nervous system, cardiovascular and urogenital, metabolic, anti-bacterials, dermatology, rare diseases, immuno-inflammation, and HIV, as well as vaccines.
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