Chemung Canal Trust Co. lowered its stake in shares of GlaxoSmithKline plc (NYSE:GSK) by 79.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,029 shares of the pharmaceutical company’s stock after selling 46,205 shares during the quarter. Chemung Canal Trust Co.’s holdings in GlaxoSmithKline were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pflug Koory LLC grew its holdings in GlaxoSmithKline by 64.4% during the 3rd quarter. Pflug Koory LLC now owns 781 shares of the pharmaceutical company’s stock worth $29,000 after acquiring an additional 306 shares in the last quarter. BNC Wealth Management LLC acquired a new position in shares of GlaxoSmithKline during the third quarter worth approximately $34,000. Rockbridge Investment Management LCC acquired a new position in shares of GlaxoSmithKline during the second quarter worth approximately $41,000. OLD Second National Bank of Aurora raised its position in shares of GlaxoSmithKline by 46.7% during the third quarter. OLD Second National Bank of Aurora now owns 1,100 shares of the pharmaceutical company’s stock worth $41,000 after purchasing an additional 350 shares during the period. Finally, Biltmore Capital Advisors LLC bought a new stake in GlaxoSmithKline during the third quarter worth $42,000. Institutional investors and hedge funds own 10.99% of the company’s stock.

A number of brokerages have issued reports on GSK. Societe Generale restated a “buy” rating on shares of GlaxoSmithKline in a research note on Friday, September 18th. DZ Bank reiterated a “buy” rating on shares of GlaxoSmithKline in a research note on Wednesday, December 16th. Zacks Investment Research cut GlaxoSmithKline from a “buy” rating to a “hold” rating and set a $41.00 price objective on the stock. in a report on Tuesday, September 15th. Oddo Bhf raised GlaxoSmithKline from a “neutral” rating to a “buy” rating in a report on Wednesday, September 23rd. Finally, Credit Suisse Group reissued a “neutral” rating on shares of GlaxoSmithKline in a report on Monday, October 5th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. GlaxoSmithKline has a consensus rating of “Hold” and an average price target of $41.00.

GSK traded up $0.22 during trading on Wednesday, reaching $37.68. 3,520,920 shares of the company were exchanged, compared to its average volume of 4,251,454. The company’s 50-day moving average is $37.21 and its two-hundred day moving average is $38.38. The company has a market cap of $94.52 billion, a price-to-earnings ratio of 11.59, a P/E/G ratio of 2.95 and a beta of 0.67. The company has a quick ratio of 0.61, a current ratio of 0.90 and a debt-to-equity ratio of 1.13. GlaxoSmithKline plc has a 12-month low of $31.43 and a 12-month high of $48.25.

GlaxoSmithKline (NYSE:GSK) last released its quarterly earnings results on Wednesday, October 28th. The pharmaceutical company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.14. GlaxoSmithKline had a return on equity of 29.60% and a net margin of 18.50%. The firm had revenue of $11.17 billion for the quarter, compared to analysts’ expectations of $11.27 billion. Equities analysts forecast that GlaxoSmithKline plc will post 3.05 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 14th. Shareholders of record on Friday, November 13th will be issued a $0.4959 dividend. The ex-dividend date is Thursday, November 12th. This represents a $1.98 annualized dividend and a dividend yield of 5.26%. This is a boost from GlaxoSmithKline’s previous quarterly dividend of $0.49. GlaxoSmithKline’s dividend payout ratio (DPR) is presently 61.51%.

GlaxoSmithKline Profile

GlaxoSmithKline plc engages in the creation, discovery, development, manufacture, and marketing of pharmaceutical products, vaccines, over-the-counter medicines, and health-related consumer products in the United Kingdom, the United States, and internationally. It operates through four segments: Pharmaceuticals, Pharmaceuticals R&D, Vaccines, and Consumer Healthcare.

Featured Story: How is a buy-side analyst different from a sell-side analyst?

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 (NYSE:GSK)

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